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Can someone please help me with this question. I'll upvote for a fast response. Strauss Cohon an item of land currently carried in its books
Can someone please help me with this question. I'll upvote for a fast response.
Strauss Cohon an item of land currently carried in its books at $24,000. On 1 January 2017. two years ago a slump in land values led the company to reduce the carrying value from $30,000. This was taken as an expense in SoCl. There has been a wrge in land pnces in the current year, however, and the land is now worth $40.000 at 1 January 2019. The entry to record the revaluation in 2019 is as follows: so Select one: Ca. Dr. SOCI $6.000 Dr. Revalvation teserve.cf Lond $16.000 b. Dr. Land $16000 Cr. Rovaluation Reserve $16.000 oc.Dr. Land $16.000 rsOCI $6,000 Cr Revaluation Reserve 110.000 d. Dr. Revaluation Reserve $16,000 CR. Land $16.000
Can someone please help me with this question. I'll upvote for a fast response.
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