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Accounting

Problem:

Jackie Remmers Travel Agency purchased land for $85,000 cash on December 10, 2014. At December 31, 2014, the land's value has increased to $93,000.

Required:

Question: What amount should be reported for land on Jackie Remmers' balance sheet at December 31, 2014? Explain.

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165377

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