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Note 5 - Land Purchases and Sales

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Real Estate Disclosure [Text Block]

Note

5:

   

Land Purchases and Sales

Land Purchases

The Company did

not

purchase any lands during the years ended

December 31, 2020

and

2019.

Land Sales

During the year ended

December 31, 2020,

the Company sold the following lands:

		+/-			Louisiana														Mineral
Quarter		Acres			Parish		Ownership				Land				Timber				Rights %
1st			3.17		Calcasieu			100.00	%		$	35,500				-				0	%
2nd			2.62		Calcasieu			16.67	%		$	128,140				-				0	%
2nd			6.75		Beauregard			100.00	%		$	64,000				-				0	%
2nd			5		Beauregard			100.00	%		$	35,000				-				0	%
3rd			3.14		Calcasieu			100.00	%		$	34,195				-				0	%
3rd			40		Calcasieu			16.67	%		$	13,333				-				0	%
4th			2.88		Calcasieu			100.00	%		$	28,800				-				0	%
4th			3.17		Calcasieu			100.00	%		$	35,190				-				0	%

During the year ended

December 31, 2019,

the Company sold the following lands:

		+/-			Louisiana														Mineral
Quarter		Acres			Parish		Ownership				Land				Timber				Rights %
1st			16.26		Calcasieu			100.00	%		$	112,500				-				0	%
2nd			20		Calcasieu			16.67	%		$	5,000				-				0	%

For the years ended

December 31, 2020

and

2019,

gains on sales of land were

$354,577

and

$80,876,

respectively.

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No definition available.

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X

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-URI http://asc.fasb.org/topic&trid=2156125

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 978
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 976
-URI http://asc.fasb.org/topic&trid=2134846

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 974
-URI http://asc.fasb.org/topic&trid=2156429

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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