Question
XYZ Company purchased a land for $ 1,000,000 during 2017 and chooses the revaluation model in accounting for its land. Below are the following information:
XYZ Company purchased a land for $ 1,000,000 during 2017 and chooses the revaluation model in accounting for its land.
Below are the following information:
| Date | Fair Value |
| December 31, 2017 | $ 1,120,000 |
| December 31, 2018 | $ 870,000 |
| December 31, 2019 | $ 1,110,000
|
a. How much is the recovery of impairment loss and revaluation gain on land for the year 2019? _____
b. What is the amount of unrealized gain on revaluation - land for the year 2019? ____
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Investing In People Financial Impact Of Human Resource Initiatives
Authors: John W. Boudreau, Wayne F. Cascio, Alexis A. Fink
3rd Edition
1586446096, 978-1586446093
