ACCOUNTING FOR INVESTMENT PROPERTY.PROBLEM 4. PLEASE ANSWER AND SHOW SOLUTION Pagara Inc., a real estate firm, and its subsidiaries have provided you, their PFRSPROBLEM 20-4: Intracompany rentalsPagara Inc., a real estate firm, and its subsidiaries have provided you, their Der.specialist, with a list of the properties they own:A building owned by Pagara, Inc. being leased out to Pigar, Inc, a subsidiar.of Pagara, Inc., P20,000,000.A property costing P34M held by a subsidiary of Pagara Inc. in the ordinarcourse of its business.Land held for undetermined future use costing P15,000,000.Questions:Based on the above data, answer the following:In its separate financial statement, what should be the amount «:investment property to be reported by Pagara Inc.?P69M1.с. Р54Мd. P15Mа.b. Р35MIn the consolidated financial statement of Pagara Inc and its subsidiaries.what amount should be reported as investment property in its statement offinancial position?P69M2.с. Р54Мd. P15Ma.b. P35M

Answered: Image /qna-images/answer/f2a4a1cb-a722-4e15-bb49-f7718d54b87a.jpg

PROBLEM 20-4: Intracompany rentals Pagara Inc., a real estate firm, and its subsidiaries have provided you, their Pru. specialist, with a list of the properties they owii: A building owned by Pagara, Inc. being leased out to Pigar, Inc, a of Pagara, Inc., P20,000,000. A property costing P34M held by a subsidiary of Pagara Inc. in the ordinary course of its business. subsidiary Land held for undetermined future use costing P15,000,000. Questions: Based on the above data, answer the following: In its separate financial statement, what should be the amount c: investment property to be reported by Pagara Inc.? P69M 1. с. Р54М d. P15M а. b. P35M In the consolidated financial statement of Pagara Inc and its subsidiaries. what amount should be reported as investment property in its statement of financial position? P69M 2. c. P54M d. P15M а. b. Р35M

PROBLEM 20-4: Intracompany rentals Pagara Inc., a real estate firm, and its subsidiaries have provided you, their Pru. specialist, with a list of the properties they owii: A building owned by Pagara, Inc. being leased out to Pigar, Inc, a of Pagara, Inc., P20,000,000. A property costing P34M held by a subsidiary of Pagara Inc. in the ordinary course of its business. subsidiary Land held for undetermined future use costing P15,000,000. Questions: Based on the above data, answer the following: In its separate financial statement, what should be the amount c: investment property to be reported by Pagara Inc.? P69M 1. с. Р54М d. P15M а. b. P35M In the consolidated financial statement of Pagara Inc and its subsidiaries. what amount should be reported as investment property in its statement of financial position? P69M 2. c. P54M d. P15M а. b. Р35M

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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