Birken CoPurchased a Building for $600,000 in 2004

question 168

Multiple Choice

Birken Co.purchased a building for $600,000 in 2004.At the end of 2016, when it had a book value of $450,000, it was appraised for $1,000,000.A potential buyer offered $900,000.Birken rejected the offer.What amount should is recorded on Birken's records at the end of 2016 in the account called Buildings?

• A) $2,000,000
• B) $800,000
• C) $500,000
• D) $350,000

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