Cole manufacturing company buys land for 50000 on12-31-2000, Accounting Basics

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Cole manufacturing company buys land for 50000 on12-31-2000

Cole Manufacturing Company buys land for $50,000 on12-31-2000. As of 3-31-2001, the land has appreciated in value to$50,500. On 12-31-2001, the land has an appraised value of $51,800. By what amount should Cole Manufacturing Company record the Land account be increased, if any in 2001?

a.$0

b. $500

c. $1,300

d. $1,800

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Accounting Basics: Cole manufacturing company buys land for 50000 on12-31-2000

Reference No:- TGS0595901

Have a Question? (oR Write a Review)

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