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An investment property company has a building with a $3,000,000 fair value on the 31st of Dec 2019 that has been leased out to another
An investment property company has a building with a $3,000,000 fair value on the 31st of Dec 2019 that has been leased out to another company during the previous periods. The company decided to use this building as the main office and reclassify it from investment property to PPE. in this case, the company should Select one: a. find the new fair value and take the difference to the income statement b. recognize the building at $3,000,000 and keep remeasuring the fair value of the building every year C. find the new fair value and take the difference to the other comprehensive income d. use the $3,000,000 as the cost to for the building and start to depreciate it
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