Final answer:
The cost at which the land will be recorded is its purchase price. For the company's transaction, the land that was part of the property purchased for $300,000 and valued at $50,000 will be recorded at $50,000.
Step-by-step explanation:
The question involves determining the cost at which the land purchased by a company will be recorded. The company purchased property for $300,000 which included an acre of land valued at $50,000. This is because the property includes an acre of land valued at $50,000, which is its market value. According to the cost principle in accounting, assets are recorded at their cost at the time of acquisition. Therefore, the land will be recorded at its purchase price, not its current or future value. In this case, the land was acquired as part of a property, and its value at the time of the transaction was $50,000. Hence, the correct answer to the question is d. $50,000.