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Business, 30.08.2021 20:50 AutumnGarringer

Land was acquired in 2021 for a future building site at a cost of $41,300. The assessed valuation for tax purposes is $28,100, a qualified appraiser placed its value at $49,600, and a recent firm offer for the land was for a cash payment of $45,700. 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 $41,300. The assessed valuation fo...
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