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How should pera co classify the equipment

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Reference no: EM133165664

Question - PERA Co. is a commercial leasing and finance company. As of year-end, PERA holds equipment that is available either for sale or lease. PERA is not yet decided whether to sell or to lease the equipment. The equipment has a carrying amount of P1,500,000, fair value of P1,800,000 and costs to sell of P75,000. How should PERA Co. classify the equipment?

Reference no: EM133165664

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