eBook Show Me How Cost Concept On February 3, Boulder Repair Service extended an offer of $566,000 for land that had been priced for sale at $629,000. On February 28, Boulder Repair Service accepted the seller's counteroffer of $597,000. On October 23, the land was assessed at a value of $613,000 for property tax purposes. On January 15 of the next year, Boulder Repair Service was offered $708,000 for the land by a national retail chain. At what value should the land be recorded in Boulder Repair Services records? Accounting Equation Terry Heming is the owner and operator of Go-For It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go For-It has assets of $694,000 and liabilities of $167,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018 b. Owner's equity as of December 31, 2019, assuming that assets increased by $132,000 and liabilities increased by $40,000 during 2079