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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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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
