ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with 20 years

estimated useful life. On December 31, 2022, the fair value of the equipment is P1,800,000, and revised
useful life of 15 years. Round off percentage to whole number and to nearest peso if you are required to
gross up. On December 31, 2022, determine the net increase in comprehensive income of ABC.

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2021, the replacement
cost of the equipment is P2,400,000. Two years after, the depreciated replacement cost has declined to
1,470,000. Round off percentage to whole number and gross-up value to the nearest peso if you are
required to gross up. On December 31, 2024, the equipment’s carrying value is

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2020, the fair value of
the equipment is P2,000,000, and revised residual value of P300,000. Round off percentage to whole
number and to nearest peso if you are required to gross up. The carrying value of the equipment on
December 31, 2021 is

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2021, the replacement
cost of the equipment turned P2,500,000 and the revised useful life is 24 years. Round off percentage to
whole number and to nearest peso if you are required to gross up. Assuming the equipment is sold on
January 1, 2024 for P1,800,000, determine the total impact to retained earnings of the equity section
because of the transaction. (indicate the word increase or decrease after the amount such as this
100,000 increase)

Three years ago, (January 1, 2018), ABC purchased a land with a cost of P5,000,000. ABC subsequently
measures the land at revalued amount although, from the year of acquisition, the fair value wasn’t
significantly different until December 31, 2023 when roads were cemented and a hospital was built
nearby. Its fair value has moved up to P8,500,000. Unexpectedly, the company needs money the
following year and decides to move to another business location. Eventually, the property was sold for
P10,000,000 incurring cost of P700,000 to sell it. As a result of this transaction, how much is the total
impact to its equity? (indicate the word increase or decrease after the amount such as this 100,000
increase)

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2020, the fair value of
the equipment is P2,000,000, and revised residual value of P300,000. Round off percentage to whole
number and to nearest peso if you are required to gross up. The amount of revaluation surplus to be
recognized on the year of revaluation is
ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2021, the replacement
cost of the equipment is P2,400,000. Two years after, the depreciated replacement cost has declined to
1,470,000. Round off percentage to whole number and gross-up value to the nearest peso if you are
required to gross up. Immediately after revaluation, the revaluation surplus has a balance of

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated
residual value of P200,000 and 20 years estimated useful life. On December 31, 2021, the replacement
cost of the equipment is P2,400,000. A year after, the replacement cost has declined to 1,700,000.
Round off percentage to whole number and to nearest peso if you are required to gross up. Determine
the loss due to revaluation

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with 20 years
estimated useful life. On December 31, 2022, the fair value of the equipment is P1,800,000, and revised
useful life of 15 years. Round off percentage to whole number and the gross up value to nearest peso if
you are required to gross up. The carrying value of the equipment 2 years after revaluation is

ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,100,000 with 20 years
estimated useful life. On December 31, 2022, the fair value of the equipment turns P1,843,750. In
addition, the useful life has revised to 15 years and ABC estimates a residual value of P100,000. Round
off percentage to 2-decimal places and the gross-up value to nearest peso if you are required to gross
up. The revaluation and revision of estimates has resulted ABC to report accumulated depreciation a
year after revaluation at what amount