Muskegon Co. acquired an adjacent vacant lot with the hope of selling it in the future at

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Muskegon Co. acquired an adjacent vacant lot with the hope of selling it in the future at a gain. The lot is not intended to be used in Muskegon’s business op¬ erations. Where should such real estate be listed in the balance sheet?

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Financial Accounting

ISBN: 9780324188035

9th Edition

Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess

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