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consolidated balance
Lina - 06/25/2019, 9:41 pm

I thought consolidated balance for land would be BV of P + FMV of S, which is 120+130=250. Can anyone please explain why fmv of S is ignored.
Thank you in advance.

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Paul-95940 - 07/3/2019, 2:25 am

Remember land is a long term asset which means it will be recorded at the historical rate where as trading securities investments are short term assets which are reported at FV. Thus you recognize gains or losses

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