Croatia Company purchased land in 2022 for $300,000. The lands fair value at the end of 2022

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Croatia Company purchased land in 2022 for $300,000. The land’s fair value at the end of 2022 is $320,000; at the end of 2023, $280,000; and at the end of 2024, $305,000.

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Prepare the journal entries to record the land using revaluation accounting for 2022– 2024.

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Intermediate Accounting IFRS

ISBN: 9781119607519

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jul 30, 2021 12:53 AM

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Croatia Company purchased land in 2022 for $300,000. The lands fair value at the end of 2022

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For the year ending 2022 As the value of land rises by 20000 320000300000 Journal E...View the full answer

Intermediate Accounting IFRS

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