What amcurt wil Entyy A report on its balance sheet for Total Assets? 5156,500 $50,500 591.500 $106,000 20.3 points Recognizing revenues when performance obligations are satisfied and recognizing oxpenses when incurred best describes the: Cashbasis of accounting Fund accounting system. Practical bask of accounting Aceruat bagis of accounting 21. Jpointr Entity I (which follows US GAAP) purchased a commerpial building sibe several years age for $150,000. A bulder recently offered to purchase the site for $325.000 in an aitcash deal, but Entity t declined. Af what value should the land be reported in Entity Is financial statements? It should not be reported if any value because it is not being used in operations $150.000 $325,000 beciase a wiling seller has been tound. $175,000