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Cooper Company purchased land for $90,000 in 2010. In 2013, the land is valued at $155,000. The land would appear on the company's December 31,
Cooper Company purchased land for $90,000 in 2010. In 2013, the land is valued at $155,000. The land would appear on the company's December 31, 2013 balance sheet at:
a. $90,000
b. $122,500 ($90,000 + $155,000)/2
c. $155,000
d. $90,000 or $155,000, its the company's choice
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