Question
Carey Company buys land for $50,000 on 12/31/12. As of 3/31/13, the land has appreciated in value to $50,700. On 12/31/13, the land has an
Carey Company buys land for $50,000 on 12/31/12. As of 3/31/13, the land has appreciated in value to $50,700. On 12/31/13, the land has an appraised value of $51,800. By what amount should the Land account be increased in 2013?
A. $0
B. $700
C. $1,100
D. $1,800
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Answer 0 Explanation There is no reason why Carey Company should increase their land account i...
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
