Land and a warehouse were acquired for $710,000. What amounts should be recorded

Question

Land and a warehouse were acquired for $710,000. What amounts should be recorded in the accounting records for land and for the warehouse if an appraisal showed the estimated values to be $360,000 for the land and $695,000 for the warehouse?(Round intermediate percentage calculations to 1 decimal place.)

Land and a warehouse were acquired for $710,000. What amounts should be recorded in the accounting records for land and for the warehouse if an appraisal showed the estimated values to be $360,000 for the land and $695,000 for the warehouse?(Round intermediate percentage calculations to 1 decimal place.)

Explanation / Answer

its definitely option B ie $242,110 for land; $467,890 for warehouse.

Related Questions

Navigate

• Browse (All)
• Browse L
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.