Consecutive Balance Sheets of Crow Ltd Showed the Following Balances

question 3

Multiple Choice

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

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