Rover Inc. purchased land for $118,000,000 in 2011.At December 31, 2020, an appraisal determined thefair value of the land is $136,000,0000. If Roverfollows the cost principle, the land will be reportedon the statement of financial position atO a. $118,000,000.b. $154,000,000.O c. $136,000,000.O d. $100,000,000.Liabilitiesa. Are things of value used by the businessin its operation.b. Are future economic benefits.С.Possess service potential.d. Are existing debts and obligations.IFRS are determined by thea. International Accounting Studies Board.b. International Auditors' Standards Body.c. Internal Accounting Standards Body.d. International Accounting StandardsВoard.

Name: Rover Inc. purchased land for $118,000,000 in 2011.At December 31, 20
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Description: Rover Inc. purchased land for $118,000,000 in 2011.At December 31, 2020, an appraisal determined thefair value of the land is $136,000,0000. If Roverfollows the cost principle, the land will be reportedon the statement of financial position atO a. $

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Rover Inc. purchased land for $118,000,000 in 2011. At December 31, 2020, an appraisal determined the fair value of the land is $136,000,0000. If Rover follows the cost principle, the land will be reported on the statement of financial position at O a. $118,000,000. O b. $154,000,000.

Rover Inc. purchased land for $118,000,000 in 2011. At December 31, 2020, an appraisal determined the fair value of the land is $136,000,0000. If Rover follows the cost principle, the land will be reported on the statement of financial position at O a. $118,000,000. O b. $154,000,000.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 38P

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