simple value limited svl was incorporated on january 1 2011 when the sole shareholde 4374202

Simple Value Limited (SVL) was incorporated on January 1, 2011 when the sole shareholder invested $1,000,000. This is the only financing the firm needed. SVL has a single project that it developed over four years. Below are details of the four years of operations. SVL used $900,000 of the funds to purchase land. At the end of 2014 the land was sold for its fair value. Required: Complete the following tables. The first table assumes that SVL uses the historical cost basis of measurement. The second table assumes that SVL uses the revaluation model of measurement. What do you observe about the total income for the four years? What do you observe about the balance sheet at the end of 2014? *OCI = other comprehensive income View Solution:
Simple Value Limited SVL was incorporated on January 1 2011

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