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2. In the immediately preceding problem, what is the total net gain which
will be ultimately included in net income?
a. P 0 c. P50,000
b. P30,000 d. P150,000
13. After three years of use, Mr. Bestre disposed of his malfunctioning
factory equipment for P1,000,000. The equipment was acquired for
P1,500,000 and has a carrying value of P800,000 on the date of sale.
14. Pedro, a realtor, was able to dispose his 2-hectare land inventory to a
buyer after three years. The lot has a fair value of P5,000,000 and was
sold at a discount of P500,000. The lot was purchased at P3,000,000.