Just Animals Co. acquired an adjacent vacant lot with the hope of selling it in the future

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Just Animals Co. acquired an adjacent vacant lot with the hope of selling it in the future at a gain. The lot is not intended to be used in Just Animals’ business operations. Where should such real estate be listed in the balance sheet?

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Survey of Accounting

ISBN: 978-0538749091

5th Edition

Authors: Carl S Warren

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Question Posted: Oct 20, 2011 06:10 AM

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Just Animals Co. acquired an adjacent vacant lot with the hope of selling it in the future

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Real estate acquired as speculation should be li...View the full answer

Survey of Accounting

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