The land that Martin Company paid $81,000 to purchase in the prior year had an appraised market value of $112,000 at the end of the current reporting 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. A. B. C. D. : = Liabilities + NA NA Assets $ 81,000 $ 31,000 NA $ 112,000 = ⠀⠀⠀ ΝΑ ΝΑ Common Stock NA NA NA NA + Retained Earnings $ 81,000 $ 31,000 NA $ 112,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The land that Martin Company paid $81,000 to purchase in the prior year had an appraised market value of $112,000 at the end of the current reporting
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.
A.
B.
C.
D.
Assets
$ 81,000
$ 31,000
NA
$ 112,000
=Liabilities +
NA
NA
ΝΑ
ΝΑ
=
=
=
=
Common Stock
NA
NA
NA
ΝΑ
Retained Earnings
$ 81,000
$ 31,000
ΝΑ
$ 112,000
Transcribed Image Text:The land that Martin Company paid $81,000 to purchase in the prior year had an appraised market value of $112,000 at the end of the current reporting 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. A. B. C. D. Assets $ 81,000 $ 31,000 NA $ 112,000 =Liabilities + NA NA ΝΑ ΝΑ = = = = Common Stock NA NA NA ΝΑ Retained Earnings $ 81,000 $ 31,000 ΝΑ $ 112,000
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