EIL.25 (LOS)) (Revaluation Accounting) Pengo Ltd. owns land that it purchased at a cost of V400 million in 2017. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2017, V450,000; 2018. V360,000, 2019, V385,000; 2020, ¥410,000, and 2021, V460,000. Instructions Complete the following table below. Value at Other Comprehensive Accumulated Other Recognized December 31 Income Comprehensive Income Net Income 2017 2018 2019 2020
EIL.25 (LOS)) (Revaluation Accounting) Pengo Ltd. owns land that it purchased at a cost of V400 million in 2017. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2017, V450,000; 2018. V360,000, 2019, V385,000; 2020, ¥410,000, and 2021, V460,000. Instructions Complete the following table below. Value at Other Comprehensive Accumulated Other Recognized December 31 Income Comprehensive Income Net Income 2017 2018 2019 2020
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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EIL.25 (LOS)) (Revaluation Accounting) Pengo Ltd. owns land that it purchased at a cost of V400 million in 2017. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2017, V450,000; 2018. V360,000, 2019, V385,000; 2020, ¥410,000, and 2021, V460,000.
Instructions
Complete the following table below.
Value at Other Comprehensive Accumulated Other Recognized December 31 Income Comprehensive Income Net Income 2017
2018
2019
2020
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