Bob purchased his home in 2013 for $400,000. On January 1, 2021, Bob's home was appraised for

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Bob purchased his home in 2013 for $400,000. On January 1, 2021, Bob's home was appraised for $525,000 and Bob's balance due on his loan to PNC Bank is $300,000. How much equity does Bob have in his home on January 1, 2021?

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Feb 26, 2024 02:22 AM

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Bob purchased his home in 2013 for $400,000. On January 1, 2021, Bob's home was appraised for

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