Carey company buys land for $50,000 on 12/31/14. as of 3/31/15, the land has appreciated in value to $50,700. on 12/31/15, the land has an appraised value of $51,800. by what amount should the land account be increased in 2015?

$0

Explanation:

There is no reason why Carey Company should increase their land account in 2015. As long as the company owns the land they should not modify the land account, since land doesn't depreciate. Even if they build something new on the land site, that will increase the land improvements account or buildings account, not the land account.

If they decide to sell the land then the original purchase value will serve as the basis for calculating capital gains taxes.

answer; i believe the answer you are searching for is (minimum payment)

years agooo ahaha. but honestly they need to update ! : )