Haley-Davis Inc. bought 3 used machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines
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Haley-Davis Inc. bought 3 used machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines as follows:
Machine No. Appraised Value
1......................................$27,000
2...................................... 45,000
3...................................... 36,000
What is each machine's individual cost? Immediately after making this purchase, Haley Davis sold machine 2 for its appraised value. What is the result of the sale? Round decimals to 3 places.
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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