A Company acquired land costing $4,500,000. The company also capitalized a separate land improvements account for site

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A Company acquired land costing $4,500,000. The company also capitalized a separate land improvements account for site remediation, as required by law. The present value of site restoration costs is $550,000. The land will be used for 25 years, and then retired. Question:

Prepare the journal entry to record the depreciation for the site restoration costs.

Posted Date: May 18, 2024 10:02 AM

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A Company acquired land costing $4,500,000. The company also capitalized a separate land improvements account for site

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