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Foot Co. acquired a piece of land in 20x1 for P6,000,000. Foot Co. subsequently revalued the land as follows: Date. Fair Value Dec. 31, 20x4.

Foot Co. acquired a piece of land in 20x1 for P6,000,000. Foot Co. subsequently revalued the land as follows: Date. Fair Value Dec. 31, 20x4. 7,000,000 Dec. 31, 20x9. 5,600,000 What amounts are recogn...

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