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On April 30, 2020, Sisig Corp. classies a property in Eastern Visayas as held for sale. The carrying amount of the property as of this date is P300,000,000 (cost of P400,000,000, accumulated depreciation of P60,000,000, and accumulated impairment loss of P40,000,000). The estimate of the fair value less cost to sell on this date is P280,000,000. On December 31, 2020, the estimate of the fair value less cost to sell is P350,000,000. The sudden increase in the fair value is attributed to the increase in demand in Eastern Visayas. What is the amount of impairment loss recovery on December 31, 2020? * (0/2 Points) Sisig Corp. purchases a building with land at a cost of P100,000,000. In the sale and purchase agreement, P20,000,000 of the purchase price is attributed to the land. The building consists of 12 floors of equal space. Sisig Corp. also incurs the following costs in connection with the purchase of the property: legal and agency fees, P3,000,000; soft-launching cost to market for tenants; P500,000 and administrative expenses, P200,000. Assuming Sisig Corp. cannot sell the floors separately and uses one-half of the ground floor or 5% of the entire building for administrative purposes, and the rest of the floor area are let out to tenants, at what amount the investment property should be initially recognized? * (0/2 Points)Sisig Corp. purchases a building with land at a cost of P100,000,000. In the sale and purchase agreement, P20,000,000 of the purchase price is attributed to the land. The building consists of 10 oors of equal space. Sisig also incurs the following costs in connection with the purchase of the property: legal and agency fees, P3,000,000; soft-launching cost to market for tenants; P500,000 and administrative expenses, P200,000. Assuming Sisig Corp. uses two oors or 20% of the entire building for administrative purposes, at what amount should the investment property be initially recognized? * (0/2 Points) P87,000,000 >