ALUCARD Company commenced operations on January 1, 2018. Du

ALUCARD Company commenced operations on January 1, 2018. During the… ALUCARD Company commenced operations on January 1, 2018. During the following year, thecompany acquired a tract of land, demolished the building on the land and built a newfactory. Equipment was acquired for the factory and, in October 2019, the plant was readyto commence operation. A gala opening was held on October 24, 2019, with the City Mayoropening the factory. The first items were ready for sale on October 30, 2019.During the year 2019, the following cash inflows and outflows occurred:While searching for a suitable block of land, ALUCARD Company placed anoption to buy with three real estate agents at a cost of P3,000 eachP9,000Receipt of loan from BPI9,000,000Payment to settlement agent for title search, stamp duties, and settlement300,000feesPayment of delinquent property taxes assumed by ALUCARD Company150,000Payment for land acquired from one of the three real estate agents3,000,000Payment for demolition of old building360,000Proceeds from sale of scraps from old building165,000Payment to architect690,000Payment to City Hall for approval of building construction360,000Payment for safety fence around construction site102,000Payment to construction contractor for factory building7,200,000Payment for external driveways, parking bays and safety lighting1,620,000Payment of interest on construction loan1,200,000Payment for safety inspection on building90,000Payment for equipment1,920,000Payment of freight and insurance costs on delivery of equipment168,000Payment of installation cost on equipment360,000Payment for safety equipment surrounding equipment330,000Payments to adjust equipment to more efficient operating levels subsequentto initial operation99,000Payment for removal of safety fence60,000Payment for new fence surrounding the factory240,000Payment for advertisements in the newspaper about the forthcoming factoryand its benefits to the community15,000Payment for opening ceremony180,000On January 1, 2018, Adam Company contracted with Tony Construction to construct abuilding for P40,000,000 on land that Adam purchased several years ago. The contractprovides that Adam is to make five payments in 2018 with the last payment scheduled forthe date of completion. The building was completed on December 31, 2018.Adam made the following payments during 2018:January 1P4,000,000March 318,000,000July 112,200,000September 308,800,000December 317,000,000TotalP40,000,000Adam had the following debt outstanding at December 31, 2018:A 12%, 5-year note dated January 1, 2018. Interest is compoundedquarterly. This loan relates specifically to the building projectP17,000,000A 10%, 10-year note dated December 31, 2018 with simple interest;interest is payable annually every December 3112,000,000A 12%, 5-year note dated December 31, 2017, with simple interest;interest is payable annually every December 3114,000,000Uranus Company received a government grant of P600,000 related to depreciable assetacquired on January 1, 2018 for P6,600,000. This grant was deducted from the cost of theasset with a useful life of 10 years and residual value of P500,000. On January 1, 2020,the grant became fully repayable due to non-compliance with conditions.Bunny Company has a department that performs machining operations on parts that are soldto contractors. A group of machines had an aggregate carrying amount of P7,380,000 onDecember 31, 2021. This group of machinery has been determined to constitute a cashgenerating unit for purposes of applying IAS 36Impairment of Assets.Presented below are data about future expected cash inflows and outflows based on thediminishing productivity expected of the machinery as it ages and the increasing coststhat will be incurred to generate output from the machines:Year:Revenues: Cost, excluding depreciation: Depreciation2022 P4,500,000P1,680,000P45,0002023 4,800,0002,520,00045,0002024 3,900,0003,300,00045,0002025 1,200,000900,00045,000The fair value of the machinery in this cash generating unit, net of estimated disposalcosts, is determined to amount to P5,070,000. The company discounts the future cash flowsof this cash generating unit by using a 5% discount rate.  In ALUCARD Company, what is the cost of land, building and equipment?A.P3,450,000; P8,697,000; P2,547,000B.P3,459,000; P9,702,000; P2,709,000C.P3,453,000; P9,897,000; P2,877,000D.P3,693,000; P10,077,000; P4,077,000 Accounting Business Financial Accounting ACCOUNTING 12345

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