Y/t= c -lt

2t.$t['pt i7 -45't ( r [tg;)

BeSAIPBAC_LICAL A-C-qpjJ.U-II!]lS_1".: ._ _D_s_crii:fllued.lp_eratien-gperalino seoments & NCAHFS

b 5. Starnpl{oldirrgCumpanytras:;t:verrrlopc{alingdir.'il,ir:nsi Oti(Jctober\'"2t16,managemcntdccidedtosellone
of ils division thut qualifies as n seperate cornl)orent according to IFITS) 'I-Le division was sold on f)ecember
18, 2016 lbr a net sellinp, price of P14,000,00fi) tJn that datc, thc,nct asset$ of {i)e division had a book value of
L"i.tvr ) I'12,000,00C|) ForthcpcrioilJam:ar;, 1,2016t()thcdatc<'f disposol,thedivisionreporteclapretaxlossfiorn
ip1 opcrations of P4,200,000) I'lic company's; incorrrr; (irK rate is.309/o on all iteins nl''income or loss) Stamp
Holding Cornpany gcncrated aftcr-tax prolits trf Pi)2,350,(!00 liom its contimring operations) At what amount
[i'; + r'i) should Slamp lfulding Cturpany disclo:it: sepuratcly inl'rilviirg, its dircontinurld operation in the Decehrber 31,
2016 staternent rtf cornpi'chcnsive ilteomc?
J0 tr a. none L iP2,2(i0,()00)
---.-_- _z'_ -
b. (Pr,s40,000) tl (i)2.940,000)
i t4rlj'"'
6- The *rrying valuc oI'hgild.irg-(-or l)eceurbt'r 11,2ilt : ,sbUttiltr.Opil and had.rernaining usefol life .@f
years. h is thc ccurp:lny's polic-v lr> dcgrresiate ali irs brrilrling.s uiirrp, th.rg111g[tJ*9lL"lISg.

UnJanudry2,2016,(-harrrhcr (-'.wrp-4nycortniltcdttl:ri:lanto-.clibuil<lingC:rndclassifiedthisassetas-held
lbr salc. Iluikline c'-' was priceti at@EEg.lll/rvhitir i> rqual tri its tiril urlrkct valuc.
-F

Driring 2016. the rlarkct coriditic,ns that rxillcrl at thc d;rte the birilding vuas classilied uritially as held f<rr sale
clctcrinralc and as a rcsult. the asset is nilt soi.l at the cnd rrl'tlt: cnd oI'2016. Ilururg 2016, the company
lctivctysolla*-hirt dicl ntlt rccciri-'any rersorrable ol.l'ers tr.r purchi:se thc building and, inresponse, reduced
ihc pric,-. r"g,,5$gq!Dl'he lrrrilJing, continucs to bc aalivqlXmarEgggLat a pri<:c that is reasonable given the
changc in lrrarket conditions.

h 20 17 the rnar*ct conclitilirrs d,;tcrioriitr: {irrt.hi:r. and tlrt: huilding is yel to tre sold by the end of'2017.
Clhamher Oonrpany helitr,,::; thar tirr, u,rrket tonditiotrs will iulprovc and luis rrrii {urther reduced the price of the
huildrng,.[lrcbrrildingcorriittucstribchcldibrsalcata1lricei',W
Irr Chamher Ct>mpany's De,:elnber .l l, 20 I /" h*llrncc sheet. tltc huiltling
0.t. sirr'ruld bc included a.i ploperty, plall & cqu,ipulenl valued at P7,200.000.
1^t.' should he inchrdrd cin(,ng thc pr<.perh', Srlant :rnd equirrrncnl at P?,60t1.00(). -
PI shoulcl be reported separately rs non-curi'ejrt assct held firr sale and valuetl eI P{t,500,000.
d q. should be repofied'sepalately as non-curirint assul l:cltl lbr rlisposal arcl valuctl at P9,000,000

1. On Octobcr 1, 2t)17, iiuiltlcr (lompany hes a buikJinq rvitlr a cosf of i]4,00(r.{;0t} an.l accumulatcd <leprecialion
ol'P3,100,000. '1 hc c(mlpimy comnrits 1rr a plan tu scll tlir'buil<ling by Febnrary l,2018. On October 1,2017,
Ihc. 6-Uilding-has an eslrmatcd selling price ot'l'}tl()().H)0. and it is estiinatcd thai selling costs associatcd with thc
dispcsaltifthebuilCingwillbePl2[t,000. Onl.)i:ccnrbcr3l,?0 l?,the estimatedsellingpriceoflhebuilding
has increased to I'l,200.00{), lvit}r cstirniitccl se lling costs rcrirainins at P120,000.

Lfulg$plLlt Wha{ anroturt of losl sh,:ruld l}uildo Cotnpany recoppizr at thc tintc thc building was reciassi{icd
U as lield fur salc?
a. Nonc r:. P12{),(}i)t)
b. PI0t,,000 d. I,220,(X)0

QLeS]io^n2: As ,of l)t',ccrobr,r 31, 1l{i17. u,iiat .rrruurt t>l gain on rccovetr7 shoultl Eluikler Company rccogniz.c
rclatcrl to the assct held for:;aIe?
a. None r. I''f2{}.0U(}
b. Pr80.0fi) d. P400,000

8. OnApril 30,2016,Mindfill (o;nprnyclassilicsnl)rr)tiriq.1 irSouthem]'agalogasheldtbrsale.'l'he carryirrg

alnount of thc propcrty' on this tlatc is P300,000.00{l (cost ol' I}400,000,000, aocumulaled depreciation of
P60,000,000andaccumulatedimpairmeritlossofl'4(l.OtX).r)00). I'hce-ctim',rteofthefairvaluelesscost1osell
tx this dafe is I'280,0(i0,00(i.

()nl)ecernhcr.J1.2016. lhccsiimate<;lthciairi,iilu.--ic';.scristsell isI'-l-50,()00.000. I'hesuddenincreaseinthc

J'air value is attribuicil to the iircrcirge in dernan<l l'or prop,:r1ies iu Southern 'l'agakrg, whc'n the region is
earmarkecl as the I'hilippiue Dcvel,:pttient llcp,irin iry tht, grrvenulterii as tirc rext phase {br economic growth.

Quesliort l: Wltct is the arnotutt lrl-iurpairnreirt Llss trn /rpril .l0,2tJl{i'i

V; lo) Nonc c. P30,0{.Xi',000
r?ni - 1r1, 5. Ir20,0()o.0tl() .1. i,40.(,(!(,,(xx)

fitr_;tiaa 2: W-hat ii; tht: amount of impairriren. krss reversai on l)ecernher 3 L 2016? 3442
D Nonc
(l,J c. l'5{).(Xi0.t)(X) l'age 2 ol 2
b. P20.000.000 rl. l'6{i,000.000
10: tI ,