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

Question

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

Quizplus · Accepted Answer

The Answer of 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

Consecutive Balance Sheets of Crow Ltd Showed the Following Balances