Business, 18.09.2019 05:20, Shaynele

Question 5 in 2xx7, oz ltd (dl) bought an abandoned lot of land on the main street in sheffield, england for 200,000 british pounds sterling. on december 31. 2x10, the land was determined to be impaired and written down to 50,000 pounds. the great recession ends and on december 31, 2x12, the land appreciates in value to 100,000 pounds. the journal entry for this land on december 31, 2x12 is: (a) impaired assets may not be written up(b) debit land 200, 000 pounds, credit gain 200,000 pounds(c) debit land 100, 000 pounds, credit gain 100,000 pounds(d) debit land 50, 000 pounds, credit gain 50, 000 pounds

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Question 5 in 2xx7, oz ltd (dl) bought an abandoned lot of land on the main street in sheffield, eng...