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What amount should the land carried on bravos books today

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Beginning stockholders' equity was $120,000. Ending stockholders' equity was $195,000.

Additional issuances of capital stock during the year amounted to $13,000. Dividends during the year amounted to $12,000. How much was net income for the year? Answer $69,000

Ending Equity of $105,000 - Begim?ng Equity of $120,000 : $75,000 - ($10,000 - $12,000) : Net Income of $69,000

Point 1: Eight years ago, Bravo Company purchased land for $170, 000. The current fair market value of the land is $421,000. The rate of general inflation experienced during the 8-year period has averaged 10% per year. At the time the land was purchased, Bravo intended to hold it for 20 years.

Question 1: At what amount should the land he carried on Bravo's books today?

Question 2: Can you explain the answer with regard to proper computing of capital stock and Dividends?

Reference no: EM132465525

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