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Staples Ltd Has Invested in Two Parcels of Land That

Question 12

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Staples Ltd has invested in two parcels of land that are treated as belonging to the same class of assets. The first parcel of land was purchased for $500,000 and has been valued this period at $650,000. The second parcel of land has a carrying value of $340,000 and has been valued this period at $100,000. What is the appropriate journal entry to record the revaluations?


A) Staples Ltd has invested in two parcels of land that are treated as belonging to the same class of assets. The first parcel of land was purchased for $500,000 and has been valued this period at $650,000. The second parcel of land has a carrying value of $340,000 and has been valued this period at $100,000. What is the appropriate journal entry to record the revaluations? A) B) C) D) E) None of the given answers.
B) Staples Ltd has invested in two parcels of land that are treated as belonging to the same class of assets. The first parcel of land was purchased for $500,000 and has been valued this period at $650,000. The second parcel of land has a carrying value of $340,000 and has been valued this period at $100,000. What is the appropriate journal entry to record the revaluations? A) B) C) D) E) None of the given answers.
C) Staples Ltd has invested in two parcels of land that are treated as belonging to the same class of assets. The first parcel of land was purchased for $500,000 and has been valued this period at $650,000. The second parcel of land has a carrying value of $340,000 and has been valued this period at $100,000. What is the appropriate journal entry to record the revaluations? A) B) C) D) E) None of the given answers.
D) Staples Ltd has invested in two parcels of land that are treated as belonging to the same class of assets. The first parcel of land was purchased for $500,000 and has been valued this period at $650,000. The second parcel of land has a carrying value of $340,000 and has been valued this period at $100,000. What is the appropriate journal entry to record the revaluations? A) B) C) D) E) None of the given answers.
E) None of the given answers.

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