Waterway Ltd. owns land that it purchased at a cost of 464,000 in 2020. The company...
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Waterway Ltd. owns land that it purchased at a cost of 464,000 in 2020. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2020, 522,000; 2021, 417,600; 2022, 446,600; 2023, 475,600; and 2024, 533,600. Complete the following table. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Value at December 31 Other Comprehensive Income 2020 2021 58,000 (58,000) Accumulated Other Comprehensive Income 58,000 i Recognized in Net Income 0 (46,400) 2022 0 i 29,000 2023 11,600 11,600 2024 58,000 69,600 17,400 i Waterway Ltd. owns land that it purchased at a cost of 464,000 in 2020. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2020, 522,000; 2021, 417,600; 2022, 446,600; 2023, 475,600; and 2024, 533,600. Complete the following table. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Value at December 31 Other Comprehensive Income 2020 2021 58,000 (58,000) Accumulated Other Comprehensive Income 58,000 i Recognized in Net Income 0 (46,400) 2022 0 i 29,000 2023 11,600 11,600 2024 58,000 69,600 17,400 i
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