Reference no: EM132680590
Considerate Company has a single investment property which had an original cost of P5,800,000 on January 1, 2018.
On December 31, 2020, the fair value was P6,000,000 and on December 31, 2021, the fair value was P5,900,000.
On acquisition, the property had a useful life of 40 years.
What is the expense recognized in profit or loss for 2021 under the fair value and cost model?
A.Fair value model - 147,500; Cost model - 145,000
B. Fair value model - 100,000; Cost model - 145,000
C. Fair value model - 100,000; Cost model - 147,500
D. Fair value model - 145,000; Cost model - 100,000
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