51 ABC Company acquired a building on January 1, 2016 for P9M At that date, the building had a useful life of 30 years On December 31, 2016 the fair value of the building was P9 6M and on December 31, 2017, the fair value is P9 8M The building was classified as an investment property and accounted for under the fair value model What amount should be carried in the statement of financial position and recognized in profit or loss for 2017 Carrying Amount P9,000,000 Profit or Loss P800,000 gain Carrying Amount P9,800,000 Profit or Loss P200,000 gain Carrying Amount P8,400,000 Profit or Loss P300,000 expense Carrying Amount P8,700,000 Profit or Loss P300,000 expense Answer not given

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51 ABC Company acquired a building on January 1, 2016 for P9M  At that date, the building had a useful life of 30 years  On December 31, 2016 the fair value of the building was P9 6M and on December 31, 2017, the fair value is P9 8M  The building was classified as an investment property and accounted for under the fair value model  What amount should be carried in the statement of financial position and recognized in profit or loss for 2017  Carrying Amount  P9,000,000  Profit or Loss  P800,000 gain Carrying Amount  P9,800,000  Profit or Loss  P200,000 gain Carrying Amount  P8,400,000  Profit or Loss  P300,000 expense Carrying Amount  P8,700,000  Profit or Loss  P300,000 expense Answer not given

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51.ABC Company acquired a building on January 1, 2016 for P9M. At that date, the building had a useful life of 30 years. On December

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