The City of Anchorage Sold Land for Its Appraised Value

question 74

Multiple Choice

The city of Anchorage sold land for its appraised value to the Big Bear Oil Company on June 1, 2014, that originally cost the city $950,000. On June 1, 2014, the land was appraised at a value of $1,400,000, and on December 31, 2014, the land's value was estimated to be $1,450,000. On Big Bear Oil Company's balance sheet at December 31, 2014, the land should be valued at

• A) $1,400,000
• B) $1,450,000
• C) $950,000
• D) $0

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Stable Patterns

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