The land that Martin Company paid $86,000 to purchase in the prior year had an appraised market value of $122,000 at the end of the current reportin period. Which of the following shows how the change in market value will affect the company's accounting equation? The letters "NA" indicate that the component of the equation is not affected. Assets $ 86,000 $ 36,000 = ΝΑ = A. B. C. D. $ 122,000 = Liabilities ΝΑ ΝΑ ΝΑ Multiple Choice = m ΝΑ + + + + + Common Stock ΝΑ ΝΑ ΝΑ ΝΑ + + + + Retained Earnings $ 86,000 $36,000 ΝΑ $ 122,000

The land that Martin Company paid $86,000 to purchase in the prior year had an appraised market value of $122,000 at the end of the current reportin period. Which of the following shows how the change in market value will affect the company's accounting equation? The letters "NA" indicate that the component of the equation is not affected. Assets $ 86,000 $ 36,000 = ΝΑ = A. B. C. D. $ 122,000 = Liabilities ΝΑ ΝΑ ΝΑ Multiple Choice = m ΝΑ + + + + + Common Stock ΝΑ ΝΑ ΝΑ ΝΑ + + + + Retained Earnings $ 86,000 $36,000 ΝΑ $ 122,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 23MC: A company purchased a building twenty years ago for $150,000. The building currently has an...

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