Company A purchased land in 20X1 for 10,000 for cash. As at 31.12.X5 the com pany estimates

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Company A purchased land in 20X1 for £10,000 for cash. As at 31.12.X5 the com¬ pany estimates that the land could be sold for £50,000. Identify how this increase in value could be recorded in the company’s books (ledgers).

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Financial Accounting

ISBN: 9780273658597

3rd Edition

Authors: Anne Britton, Christopher Waterston

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Question Posted: Jun 11, 2024 01:02 AM

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Company A purchased land in 20X1 for 10,000 for cash. As at 31.12.X5 the com pany estimates

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Financial Accounting

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