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D. Staples Company operates in a hyperinflationary economy. Its building has carrying amount of P1,000,000 on December 31, 2022. The building was acquired on June
D. Staples Company operates in a hyperinflationary economy. Its building has carrying amount of P1,000,000 on December 31, 2022. The building was acquired on June 21, 2020. The general price indices are as follows: June 21, 2020 100 December 31, 2021 150 Average - 2022 180 December 31, 2022 200 Required: Show your solution. 1. Compute for the building's restated amount on December 31, 2022. 2. Assume that the building is P200,000. Compute for depreciation's restated amount on December 31, 2022. 3. Assume further that the carrying amount of the building is P1,200,00 on December 31, 2021. Compute for the building's restated amount on December 31, 2022
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