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View Full Version : Land Parcel


williamsa9
Jul 7, 2009, 06:34 PM
If a parcel of land that was originally purchased for $85,00 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is purchased for $137,000, the land should be recorded in the purchaser's books at:

Fr_Chuck
Jul 7, 2009, 06:52 PM
Actual purchase price, you did not list what the sell price was, but I assume this was homework not a real question