Tanaka Company has land that cost $15,000,000. Its fair value on December 31, 2012, is $20,000,000. Tanaka

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Tanaka Company has land that cost $15,000,000. Its fair value on December 31, 2012, is $20,000,000. Tanaka chooses the revaluation model to report its land. Explain how the land and its related valuation should be reported.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Jan 13, 2012 06:08 AM

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Tanaka Company has land that cost $15,000,000. Its fair value on December 31, 2012, is $20,000,000. Tanaka

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Land Cost 15000000 and Fair value is 20000000 Unrealized gai...View the full answer

Intermediate Accounting

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