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Pigeon Ltd Purchased Land for $750 000 6 Years Ago

Question 40

Multiple Choice

Pigeon Ltd purchased land for $750 000 6 years ago.It was revalued on 31 December 2009 to $600 000.A subsequent revaluation on 31 December 2011 found the market value to be $900 000 due to a change in council zoning for the area.What are the journal entries required to record the revaluations on 31 December 2009 and 31 December 2011?


A)
Pigeon Ltd purchased land for $750 000 6 years ago.It was revalued on 31 December 2009 to $600 000.A subsequent revaluation on 31 December 2011 found the market value to be $900 000 due to a change in council zoning for the area.What are the journal entries required to record the revaluations on 31 December 2009 and 31 December 2011? A) B) C) D)
B)
Pigeon Ltd purchased land for $750 000 6 years ago.It was revalued on 31 December 2009 to $600 000.A subsequent revaluation on 31 December 2011 found the market value to be $900 000 due to a change in council zoning for the area.What are the journal entries required to record the revaluations on 31 December 2009 and 31 December 2011? A) B) C) D)
C)
Pigeon Ltd purchased land for $750 000 6 years ago.It was revalued on 31 December 2009 to $600 000.A subsequent revaluation on 31 December 2011 found the market value to be $900 000 due to a change in council zoning for the area.What are the journal entries required to record the revaluations on 31 December 2009 and 31 December 2011? A) B) C) D)
D)
Pigeon Ltd purchased land for $750 000 6 years ago.It was revalued on 31 December 2009 to $600 000.A subsequent revaluation on 31 December 2011 found the market value to be $900 000 due to a change in council zoning for the area.What are the journal entries required to record the revaluations on 31 December 2009 and 31 December 2011? A) B) C) D)

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