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Larkspur Corp., a private company, obtained land by issuing 1,850 of its common shares. The land was appraised at $81,100 by a reliable, independent valuator
Larkspur Corp., a private company, obtained land by issuing 1,850 of its common shares. The land was appraised at $81,100 by a reliable, independent valuator on the date of acquisition. Last year, Larkspur sold 1,600 common shares at $42 per share.
Prepare the journal entry to record the land acquisition if Larkspur elects to prepare financial statements in accordance with IFRS
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