Company Four purchased land for $1,000,000. Fair value was $1,250,000 at the beginning of the year..

Company Four purchased land for $1,000,000. Fair value was $1,250,000 at the beginning of the year and $800,000 at the end of the year. Required: Prepare the journal entry to record the revaluation adjustment. View Solution:
Company Four purchased land for 1 000 000 Fair value was 1 250 000