Beacon inc received a gift of land and building in twin


Question - Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. The land and buildings have fair values of $45,000 and $455,000.

Required: Prepare journal entries to record the above transactions.

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Accounting Basics: Beacon inc received a gift of land and building in twin
Reference No:- TGS02593648

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