Need help with my accounting homework?

2. (TCO A, E) Elite Company buys land for $ 80,000 on 12/31/06. As of 5/31/07, the land has appreciated in value to 1,000. On 12/31/07, the land has an appraised value of 5,000. By what amount should the Land account be increased in 2007? (Points: 5) ,000 {content} 1,000 5,000 4. (TCO D) Joe’s [...] http://bit.ly/lymxW1