Note pay is estimated to be 75% realizable ➤ A mortgage payable of P192,500 is secured by building valued at P35,000 less than its carrying amount of P230,000 ➤ Assets not mentioned above have estimated value of P62,500, an amount that is P15,000 above carrying amount ➤ Total liabilities not mentioned above total p96,000, including claims with priority of P18,500
Note pay is estimated to be 75% realizable ➤ A mortgage payable of P192,500 is secured by building valued at P35,000 less than its carrying amount of P230,000 ➤ Assets not mentioned above have estimated value of P62,500, an amount that is P15,000 above carrying amount ➤ Total liabilities not mentioned above total p96,000, including claims with priority of P18,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much is the estimated loss on asset realization?
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