Augustine Company purchased land, buildings, and equipment for $2,400. The appraised values for the assets are $765,

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Augustine Company purchased land, buildings, and equipment for $2,400. The appraised values for the assets are $765, $1,275, and $510, respectively. What amount should be recorded as the cost of the land?
a. $720
b. $765
c. $813
d. $3,000
e. None of the above
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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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