Nicole Ltd owns a property which has a carrying value at the beginning of 2020 of P73,500,000.
Fantastic news! We've Found the answer you've been seeking!
Question:
Nicole Ltd owns a property which has a carrying value at the beginning of 2020 of P73,500,000. At the year-end it has entered a contract to sell the property for P88 200 000. The tax rate is 30%. How will this be shown in the financial statements?
Show the journal entries for Nicole Ltd
Posted Date: