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On December 31,2018, Max Company committed to a plan to discontinue the operation of Underwear Division. The fair value of the facilities was P1,000,000
On December 31,2018, Max Company committed to a plan to discontinue the operation of Underwear Division. The fair value of the facilities was P1,000,000 less than carrying amount on December 31,2018 The division's operating loss for 2018 was P2,000,000 and the division was actually sold for P1,200,000 less than carrying amount in 2019. The entity estimated that the division's operating loss for 2019 would be P500,000 What amount should be reported as pretax loss from discontinued operation in 2018 ?
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
