Theirs Company owns the properties below, which it leases out under operating leases to the following: Fair Value P 5,000,000 Renter subsidiary Building Machinery 800,000 Associate Condominium Unit--- 3,000,000 subsidiary Land 8,000,000 Associate In Theirs's consolidated statement of financial position, how much would be presented as investment property?

Theirs Company owns the properties below, which it leases out under operating leases to the following: Fair Value P 5,000,000 Renter subsidiary Building Machinery 800,000 Associate Condominium Unit--- 3,000,000 subsidiary Land 8,000,000 Associate In Theirs's consolidated statement of financial position, how much would be presented as investment property?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter19: Corporations: Distributions Not In Complete Liquidation

Section: Chapter Questions

Problem 9DQ

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If an entity as lessee presents as investment property a property interest held under an operating lease then the entity 1has the option of measuring some items of investment property using the cost model. 2shall measure in the financial statement all of its investment property using the fair value models 3shall measure that leased property interest under the fair value model and the remaining investment property using the cost model. 4shall measure that leased property interest under the cost model and the remaining investment property either using the cost model or the fair value model.
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28. If an entity as lessee presents as investment property a property interest held under an operating lease then the entity has the option of measuring some items of investment property using the cost model. shall measure in the financial statement all of its investment property using the fair value models shall measure that leased property interest under O the fair value model and the remaining investmen property using the cost model. shall measure that leased property interest under the cost model and the remaining investment property either using the cost model or the fair value model.
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