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How does appraised land appear on the books?

appear appraised Books land
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How does appraised land appear on the books?

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A company bought land for $1,200,000 in 1982 and it appraised at $1,795,000 in 2007 I would think it would appear on the books in 2007 at its appraised value of 1,795,000, but I’m not sure.

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