Answer the following questions: a. How would land owned by a manufacturer be shown on its balance

Question:

Answer the following questions:

a. How would land owned by a manufacturer be shown on its balance sheet?

b. Would land owned by a real estate investment company perhaps have a different purpose than land occupied by a factory? Contrast the balance sheet presentation of land as a fixed asset and as some other type of asset.

c. Create a numerical example showing two ways a firm may report land on its balance sheet, depending on the proposed use of the land. How much discretion do you suppose that managers might have in making this choice?

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