The amount placed opposite the Land account in the Balance Sheet columns of the work sheet is the amount to be reflected for Land on the balance sheet.

Question

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The amount placed opposite the Land account in the Balance Sheet columns of the work sheet is the amount that should be reflected for Land on the balance sheet. This is because the purpose of creating a work sheet is to prepare the financial statements, including the balance sheet. Therefore, the amount shown for Land in the Balance Sheet columns of the work sheet should be directly transferred to the balance sheet.

The Amount Placed Opposite the Land Account in the Balance