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Company reports the following information for 2020. 12/31/2019 Land Account Balance = $100 12/31/2020 Land Account Balance = $125 49er purchased $10 of Land by
Company reports the following information for 2020.
- 12/31/2019 Land Account Balance = $100
- 12/31/2020 Land Account Balance = $125
- 49er purchased $10 of Land by issuing common stock and $50 of Land using cash.
- 49er reported a gain of $5 on the sale of Land.
- All other land related transactions were cash transactions.
Provide the cash purchase and sale of land for 2020.
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Principles Of Accounting
Authors: Steven M. Bragg
1st Edition
1642210773, 978-1642210774
