CHAPTER 10

*Computation of gain: Book value of land $ 60,000 Book value of buildings ($280,000 – $160,000) 120,000 Book value of land and building 180,000 Cash received 430,000 Gain on disposal $250,000 Aug. 1 Land 90,000 Building 400,000 Cash 490,000 TIME AND PURPOSE OF PROBLEMS ................
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