Answered: record in the table below. Calculate…

record in the table below. Calculate the change in market value OE, change in valuation equity and change in cost basis OE during 2018-2019 and record in the table below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 3
A farm that has adopted the Financial Guidelines for Agricultural Producers has the following
figures on its two most recent balance sheets. Compute the cost basis OE for 2018 and 2019 and
record in the table below. Calculate the change in market value OE, change in valuation equity
and change in cost basis OE during 2018-2019 and record in the table below.
Difference
2018
2019
between 2019 and 2018
Market value equity
Valuation equity
$ 859,854
$ 415,698
$ 886,113
$ 448,581
Cost basis owner
equity

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