Please see the attached pictures. and Kindly please show its solution. Thank you :))

Question 6

The following expenditures were incurred by John Legend Company in 2020.

Cost of land, 4.500.000

Expenses of land survey, 30,000

Expenses for search of land title, 6,000

Building permit fee, 10,000

Temporary building to house materials and construction workers, 50,000

Demolition of old building, 40,000

Payments to tenants to vacate old building, 60,000

Payments to construction workers for injuries sustained, 85,000

Interest on temporary loan for construction, 90,000

Cost of paving parking area adjoining building, 45,000

Excavation expenses for foundation of building, 150,000

Cost of construction, 9,800,000

Using the interpretations of the PIC, what is the cost of building?

Question 7

Abel Tesfaye Company borrowed P4,000,000 on a 10% note payable to finance a new warehouse Abel is constructing for its own use. The only other debt on Abel's books is P6,000,000, 12% mortgage payable on an office building. The construction of the warehouse was completed in six months and the average accumulated expenditures amounted to P4,750,000.

What is the amount of interest that should be capitalized?

Question 8

Air Supply traded in an old machine having a carrying amount of P16,800, and paid a cash difference of P6,000 for a new machine having a total cash price of P20,500.

What amount of loss should Air Supply recognize on this exchange?

Question 6 2 pts The following expenditures were incurred by John Legend Company in 2020. Cost of land, 4.500.000 Expenses of land survey, 30,000 Expenses for search of land title, 6,000 Building permit fee, 10,000 Temporary building to house materials and construction workers, 50,000 Demolition of old building, 40,000 Payments to tenants to vacate old building, 60,000 Payments to construction workers for injuries sustained, 85,000 Interest on temporary loan for construction, 90,000 Cost of paving parking area adjoining building, 45,000 Excavation expenses for foundation of building, 150,000 Cost of construction, 9,800,000 Using the interpretations of the PIC, what is the cost of building? O 10,245,000 10,310,000 10,185,000 10,254,000Question 7 2 pts Abel Tesfaye Company borrowed P4,000,000 on a 10% note payable to finance a new warehouse Abel is constructing for its own use. The only other debt on Abel's books is P6,000,000, 12% mortgage payable on an office building. The construction of the warehouse was completed in six months and the average accumulated expenditures amounted to P4,750,000. What is the amount of interest that should be capitalized? O 245,000 O 490,000 O 237,500 200,000 Question 8 2 pts Air Supply traded in an old machine having a carrying amount of P16,800, and paid a cash difference of P6,000 for a new machine having a total cash price of P20,500. What amount of loss should Air Supply recognize on this exchange? O 2,300 O 3,700 O 6,000