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(2) On May 12, Green Co. purchased for $1,620,000 a tract of land on which a warehouse and office building was located. The following
(2) On May 12, Green Co. purchased for $1,620,000 a tract of land on which a warehouse and office building was located. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land Warehouse Office Building $600,000 400,000 800,000 $1,800,000 $550,000 370,000 680,000 $1,600,000 What are the appropriate amounts that Mooney should record for the land, warehouse, and office building, respectively?
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