Land was acquired in 2013 for a future building site at a, Ask an Expert

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Land was acquired in 2013 for a future building site at a cost of $40,400. The assessed valuation for tax purposes is $28,700, a qualified appraiser placed its value at $48,800, and a recent firm offer for the land was for a cash payment of $44,500. The land should be reported in the financial statements at?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9966498

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