On January 1, 2012, Alberta Company Purchased Land and a Building

question 8

Multiple Choice

On January 1, 2012, Alberta Company purchased land and a building for $1,120,000. At the time of the purchase, it was estimated that the building had a market value of $700,000. On January 5, Alberta installed a fence around the property at a cost of $7,000. Given this information, the journal entry to record the purchase of the land and building would include a

• A) Debit to Land for $427,000
• B) Debit to Land for $420,000
• C) Debit to Land for $413,000
• D) Debit to Land for $700,000

---

Definitions:

SAMHSA

The Substance Abuse and Mental Health Services Administration, a U.S. government agency that leads public health efforts to advance the behavioral health of the nation.

Addictive Disorders

A group of disorders characterized by compulsive engagement in rewarding stimuli at the expense of health, social, and economic problems.

Mental Health Disorders

A wide range of conditions that affect mood, thinking, and behavior, often requiring medical or therapeutic intervention.

Co-occurring Disorders

are conditions where an individual simultaneously experiences a mental health disorder and a substance use disorder.