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Business, 21.01.2021 22:40 ashley352

Land was acquired in 2021 for a future building site at a cost of $40,800. The assessed valuation for tax purposes is $27,900, a qualified appraiser placed its value at $48,900, and a recent firm offer for the land was for a cash payment of $44,200. 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 $40,800. The assessed valuation fo...
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