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a. Land with an assessed value of $300,000 for property tax purposes is acquired by a business for $475,000. Ten years later, the plot of land has an assessed value of $500,000 and the business receives an offer of $900,000 for it. Should the monetary amount assigned to the land in the business records now be increased?
b. Assuming that the land acquired in (a) was sold for $900,000, how would the various elements of the accounting equation be affected?
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However, the balance of accumulated depreciation was $400,000. In this scenario, would Company X have had to raise more capital?
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Based on your Reading Chapter 5, and the learning activities where you practiced with risks and threats in ecommerce, respond to the checklist items in an informative essay.
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