Question: Please provide explanations with answers. thanks! Variable Value Limited (VVL) was incorporated on January 1, 2019, when the sole shareholder invested $1,000,000. This is the

Please provide explanations with answers. thanks!

Please provide explanations with answers. thanks! Variable Value Limited (VVL) was incorporated

Variable Value Limited (VVL) was incorporated on January 1, 2019, when the sole shareholder invested $1,000,000. This is the only financing the firm needed. WV has a single project that it developed over four years. Below are details of the four years of operations. WL used $900,000 of the funds to purchase land. At the end of 2022 , the land was sold for its fair value. (Click the icon to view the data.) Required: Complete the following tables. The first table assumes that VVL uses the historical cost basis of measurement. The second table assumes that WL uses the revaluation model of measurement. OCl refers to other comprehensive income

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