Most companies pay current liabilities

Select one:

a. out of current assets.

b. by creating long-term liabilities.

c. by issuing interest-bearing notes payable.

d. by issuing stock.

Carey Company buys land for $50,000 on 31/12/2016 . As of 31/3/2017, the land has appreciated in value to $50,700. On 31/12/2017, the land has an appraised value of $51,800. By what amount should the Land account be increased in 2017?

Select one:

a. $1,800

b. $700

c. $0

d. $1,100