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Consecutive Balance Sheets of Crow Ltd Showed the Following Balances

question 34

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Consecutive balance sheets of Crow Ltd showed the following balances:
Consecutive balance sheets of Crow Ltd showed the following balances:   During the year ended 30 June 2016, land was revalued upwards by $120 000, and $80 000 was borrowed to acquire land. What was the value of land purchased for cash? A)  $50 000 B)  $130 000 C)  $170 000 D)  $250 000
During the year ended 30 June 2016, land was revalued upwards by $120 000, and $80 000 was borrowed to acquire land. What was the value of land purchased for cash?


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