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Business, 29.08.2020 01:01 kloyet11

Land was acquired in 2021 for a future building site at a cost of $41,500. The assessed valuation for tax purposes is $28,200, a qualified appraiser placed its value at $49,300, and a recent firm offer for the land was for a cash payment of $44,800. The land should be reported in the financial statements at:

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Land was acquired in 2021 for a future building site at a cost of $41,500. The assessed valuation fo...

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