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Company Nine Purchased Land for $600,000 Some Years Ago

Question 60

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Company Nine purchased land for $600,000 some years ago. Fair value was $800,000 at the beginning of this year and $350,000 at the end of this year.
Prepare the journal entry to record this year's revaluation adjustment.

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\[\begin{array} { l l }
\text { Dr. OCI...

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