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20 Shane Corporation purchased for $450,000 a tract of land on which was located a warehouse and an office building. The following data were collected
20
Shane Corporation purchased for $450,000 a tract of land on which was located a warehouse and an office building. The following data were collected concerning the property: Vendor's Original Cost Land Warehouse Office building Current Assessed Valuation $100,000 80,000 220,000 $400,000 $ 70,000 80,000 150,000 $300,000 What are the appropriate amounts that Shane should record for the land, warehouse, and office building, respectively? land, $100,000; warehouse, $80,000; office building, $220,000 Oland, $112,500; warehouse, $90,000; office building, $247,500 Oland, $100,000; warehouse, $80,000; office building, $270,000 land, $70,000; warehouse, $80,000; office building, $150,000Step by Step Solution
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