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Case 3 - Real estate industry A real estate company and its subsidiaries provided list of properties they own during the current year: Land held
Case 3 - Real estate industry A real estate company and its subsidiaries provided list of properties they own during the current year: Land held by the company for undetermined future use P15,000,000 Vacant building owned and to be leased out 25,000,000 Property held for use in the production 18,000,000 Hotel owned by its subsidiaries, which 55,000,000 also provides security services to its guests Land held for long-term capital appreciation 23,000,000 Building currently being constructed for future 22,000,000 as owner occupied Condominium building currently being constructed 35,000,000 intended for sale in the ordinary course of business Property being constructed on behalf of a third party 27,000,000 Building that houses materials for use in construction 15,000,000 activities Building occupied by the company for administrative 16,000,000 purposes Land subdivided into smaller lots intended for sale 20,000,000 in the ordinary course of the business Office building previously used for its own 32,000,000 administrative purposes, but during the current year, management moved the workforce to a new building and leased the old building to a third party Determine the amount of the properties to be included in the company's (1) investment property, (2) inventories and (3) property, plant and equipment
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