Belle Company buys land for $50,000 on 12/31/06. As of 3/31/07, the land has appreciated in value to $50,500. On 12/31/06, the land has an appraised value of $51,800 By what amount should the Land account be increased in 2007?
I'm not asking for the answer to the question but I do not understand the question itself. If you could help me to understand the question I would greatly appreciate it.