What is the measurement of the subsidiary

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Reference no: EM132720289

Problem 1: Marian Company, a parent entity, approved on December 1, 2018 a plan to sell its subsidiary. The s1e is expected to be completed on March 31, 2019. The subsidiary had assets with carrying amount of P30,000,000 including goodwill of P3,000, 000 on December 31, 2018. The subsidiary made a loss of P6,000, 000 from January 1 to March 1, 2019 and is expected to make a further loss of P4,000,000 up to the date of sale. At the date of approval of the financial statements, the entity was in negotiation for the sale of the subsidiary but no contract had been signed. The entity expects to sell the subsidiary for P18,000,000 and to incur costs of disposal of P1,000,000. The value in use of the subsidiary was estimated to be P 20,000,000. On December 31, 2018, what is the measurement of the subsidiary which is considered as a "disposal group classified as held for sale"?

Reference no: EM132720289

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