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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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