Tanaka Ltd. has land that cost 15,000,000. Its fair value on December 31, 2022, is 20,000,000. Tanaka
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Tanaka Ltd. has land that cost ¥15,000,000. Its fair value on December 31, 2022, is ¥20,000,000. Tanaka chooses the revaluation model to report its land. Explain how the land and its related valuation should be reported.
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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