30. On 1 July 2020 Big Wednesday ud acquired land at a cost of $1000...
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Accounting
30. On 1 July 2020 Big Wednesday ud acquired land at a cost of $1000 000. Big Wednesday Ltd makes the following estimates of the value of the ne on value Net selling price ! Value in use $) 1050000 1950 960 000 1950000 (a) Determine the recoverable amount of the land for each reporting date (5) Assume that Big Wednesday Lid uses the cost method. For each year, calculate the carrying amount of the land Prepare the journal entries necessary to effect any adjustments required by accounting standards
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