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GIVEN: Moon Inc., a publicly listed company, has a building with an initial cost of $400,000. At December 31, 2020, the date of revaluation, accumulated depreciation amounted to $110,000. The fair value of the building, by comparing it with transactions involving similar assets, is assessed to be $330,000.
Problem 1: Use the information from 1 above. On January 5, 2021, Moon sold the building for $325,000 cash. Prepare the journal entries to record the sale of the building after having useda. the revaluation model using the proportionate method.
linda clark received 182000 from her mothers estate. she placed the funds into the hands of a broker who purchased the
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