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19. Cotton Hotel Corporation recently purchased Emporia
Hotel and the land on which it is located with the plan to tear
down the Emporia Hotel and build a new luxury hotel on the
site. The cost of the Emporia Hotel should be

20. Ecker Company purchased a new machine on May 1,
2006 for $352,000. At the time of acquisition, the machine
was estimated to have a useful life of ten years and an
estimated salvage value of $16,000. The company has
recorded monthly depreciation using the straight-line method.
On March 1, 2015, the machine was sold for $48,000. What
should be the loss recognized from the sale of the machine?

21. Under IFRS, Sampson Company, who has a non-current
asset which has been classified as held-for-sale, should

22. The cost of land does not include

23. Which of the following is not a condition that must be
satisfied before interest capitalization can begin on a
qualifying asset?