On November 1, 2023 ABC Company committed to a plan to dispose of a major subsidiary. The disposal met the requirements for classification as discontinued operation. The carrying amount of the subsidiary was P9,640,000 and management estimated the fair value less cost of disposal at P7,832,500. The subsidiary had an operating loss of P2,410,000. What amount should be presented as pretax loss from discontinued operation for the current year?
On November 1, 2023 ABC Company committed to a plan to dispose of a major subsidiary. The disposal met the requirements for classification as discontinued operation. The carrying amount of the subsidiary was P9,640,000 and management estimated the fair value less cost of disposal at P7,832,500. The subsidiary had an operating loss of P2,410,000. What amount should be presented as pretax loss from discontinued operation for the current year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On November 1, 2023 ABC Company committed to a plan to dispose of a major subsidiary. The disposal met the requirements for classification as discontinued operation. The carrying amount of the subsidiary was P9,640,000 and management estimated the fair value less cost of disposal at P7,832,500. The subsidiary had an operating loss of P2,410,000.
What amount should be presented as pretax loss from discontinued operation for the current year?
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