The amount of the gain or loss when selling land is the difference between the [...] of the land and the price at which the land is sold.
Answer
carrying value
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it The amount of the gain or loss when selling land is the difference between the carrying value of the land and the price at which the land is sold.
Original toplevel document
2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT are reported as revenue, and the costs incurred to generate these revenues are expenses and are presented separately. However, if a manufacturing company sells surplus land that is not needed, the transaction is reported as a gain or a loss. <span>The amount of the gain or loss is the difference between the carrying value of the land and the price at which the land is sold. For example, in Exhibit 2, Kraft reports a loss (proceeds, net of carrying value) of $6 million on divestitures in fiscal 2009. Kraft discloses in the notes to consolidated financial st
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.