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-   -   Accounting Assets (https://www.askmehelpdesk.com/showthread.php?t=351657)

  • May 9, 2009, 09:26 AM
    ISOneedhelp
    Accounting Assets
    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:
  • May 9, 2009, 10:14 AM
    Steve Causey
    The asset should be recorded at the purchase price

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