Adjusting the amount of land on balance sheet


Response to the following questions:

1. Is the Land balance before the accounts have been adjusted the amount that should normally be reported on the balance sheet? Explain.

2. Is the Supplies balance before the accounts have been adjusted the amount that should normally be reported on the balance sheet? Explain.

If possible, please give examples to better understand your answers.

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Accounting Basics: Adjusting the amount of land on balance sheet
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