The entity has the following data during the year Building 5,000,000 Land 6,000,000 Equipment 2,000,000 The total fair market value is equal to P9,000,000. The fair market value of land as of that date is 7,000,000. How much is the impairment loss attributable to the building? O 3,571,428 1,000,000 2,000,000 O 1,538,461

The entity has the following data during the year Building 5,000,000 Land 6,000,000 Equipment 2,000,000 The total fair market value is equal to P9,000,000. The fair market value of land as of that date is 7,000,000. How much is the impairment loss attributable to the building? O 3,571,428 1,000,000 2,000,000 O 1,538,461

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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