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  3. martinex's forestland was condemned for use as a n

Martinex's forestland was condemned for use as a national park. The carrying amount of the...

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Accounting

Martinex's forestland was condemned for use as a national park. The carrying amount of the

forestland was $100,000. Compensation for the condemnation was $150,000. Martinex purchased

similar, but larger, replacement forestland for

$200,000.

As a result of the condemnation and

replacement, what is the net effect on the carrying amount of the forestland reported in Martinex's

Balance Sheet?

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