Company Two purchased land for $1,000,000. Fair value was $500,000 at the beginning of the year and

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Company Two purchased land for $1,000,000. Fair value was $500,000 at the beginning of the year and $400,000 at the end of the year.
Required:
Prepare the journal entry to record the revaluation adjustment.

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Intermediate Accounting

ISBN: 978-0132612111

Volume 1, 1st Edition

Authors: Kin Lo, George Fisher

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Question Posted: Feb 04, 2016 04:51 AM

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Company Two purchased land for $1,000,000. Fair value was $500,000 at the beginning of the year and

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Intermediate Accounting

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