Tanaka Ltd. has land that cost 15,000,000. Its fair value on December 31, 2019, is 20,000,000. Tanaka

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Tanaka Ltd. has land that cost ¥15,000,000. Its fair value on December 31, 2019, 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 IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Nov 23, 2017 08:44 AM

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Tanaka Ltd. has land that cost 15,000,000. Its fair value on December 31, 2019, is 20,000,000. Tanaka

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The land should be reported on the stateme...View the full answer

Intermediate Accounting IFRS

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