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Problem 9-6 (IFRS) Purple Company has correctly classified the packaging operation as a disposal group held for sale and as discontinued operation. For the year ended December 31, 2019, this disposal group incurred trading loss after tax of P2,000,000 and the loss on remeasuring it to fair value less cost of disposal was P1,500,000. What total amount of the disposal group's losses should be included in profit or loss for the year ended December 31, 2019? a. 3,500,000 b. 2,000,000 c. 1,500,000 d. 0

Problem 9-6 (IFRS) Purple Company has correctly classified the packaging operation as a disposal group held for sale and as discontinued operation. For the year ended December 31, 2019, this disposal group incurred trading loss after tax of P2,000,000 and the loss on remeasuring it to fair value less cost of disposal was P1,500,000. What total amount of the disposal group's losses should be included in profit or loss for the year ended December 31, 2019? a. 3,500,000 b. 2,000,000 c. 1,500,000 d. 0

FINANCIAL ACCOUNTING
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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Problem 9-6 (IFRS) Purple Company has correctly classified the packaging operation as a disposal group held for sale and as discontinued operation. For the year ended December 31, 2019, this disposal group incurred trading loss after tax of P2,000,000 and the loss on remeasuring it to fair value less cost of disposal was P1,500,000. What total amount of the disposal group's losses should be included in profit or loss for the year ended December 31, 2019? a. 3,500,000 b. 2,000,000 c. 1,500,000 d. 0
Transcribed Image Text:Problem 9-6 (IFRS) Purple Company has correctly classified the packaging operation as a disposal group held for sale and as discontinued operation. For the year ended December 31, 2019, this disposal group incurred trading loss after tax of P2,000,000 and the loss on remeasuring it to fair value less cost of disposal was P1,500,000. What total amount of the disposal group's losses should be included in profit or loss for the year ended December 31, 2019? a. 3,500,000 b. 2,000,000 c. 1,500,000 d. 0
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