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LUMALA-BONd Company acquired a tract of land with a fair value of P5,300,000 by issuing P5,000,000 face value bonds quoted at 97. A quarter of
LUMALA-BONd Company acquired a tract of land with a fair value of P5,300,000 by issuing P5,000,000 face value bonds quoted at 97. A quarter of the land will be used for administrative purposes, while the remaining portion will be held for capital appreciation.
What amount is the initial cost of investment property?
What amount is the initial cost of investment property?
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Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
