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E11.24 (LO 5) (Revaluation Accounting) Croatia Company purchased land in 2022 for $300,000. The land's fair value at the end of 2022 is $320,000;
E11.24 (LO 5) (Revaluation Accounting) Croatia Company purchased land in 2022 for $300,000. The land's fair value at the end of 2022 is $320,000; at the end of 2023, $280,000; and at the end of 2024, $305,000. Instructions Prepare the journal entries to record the land using revaluation accounting for 2022-2024.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th edition
978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432
