NONCURRENT assets held for sale

Problem 6-6 (IFRS) On December 31, 2020, Villa Company classified as held for sale an equipment with carrying amount of P5,000,000. On this date, the equipment is expected to be sold for P4,600,000. Disposal cost is expected at P200,000. On December 31, 2021, the equipment had not been sold and management after considering its options decided to place back the equipment into operations. On December 31. 2021, the entity estimated that the equipment is expected to be sold at P4,300,000 with the disposal cost at P50,000. The carrying amount of the equipment was P4,000,000 on December 31, 2021 if the noncurrent asset was not classified as held for sale. 1. What is the impairment loss for 2020? a 600,000 b. 400,000 c. 200,000 0 2. What is the measurement of the equipment on December 31, 2021? a. 4,300,000 b. 4,000,000 c. 4,400,000 d. 4,250,000 3. What is the loss on reclassification in 2021? a. 300,000 b. 250,000 e. 400,000 d. 150,000 191