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Business, 13.11.2019 05:31 Terrilady5

Perlman land development, inc. purchased land for $70,000 and spent $30,000 developing it. it then sold the land for $160,000. sheehan manufacturing purchased land for a future plant site for $100,000. due to a change in plans, sheehan later sold the land for $160,000. should these two companies report the land sales, both at gains of $60,000, in a similar manner?

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Perlman land development, inc. purchased land for $70,000 and spent $30,000 developing it. it then s...
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