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Albedo Company made the following acquisitions during the year:

Purchased for P5,400,000 a warehouse building and the land on which is located. The land had an appraised value (fair market value) of P2,000,000 and original cost of P1,400,000. The building had an appraised value of P3,000,000 and original cost of P2,800,000.

Purchased an office building and the land on which it is located for P7,500,000 cash and assumed an existing P2,500,000 mortgage. For realty tax purposes, the property is assessed at P9,600,000, 60% of which is allocated to the building.

What is the amount should be reported as total cost of land and building, respectively?

Albedo Company made the following acquisitions during the year:

Purchased for P5,400,000 a warehouse building and the land on which is located. The land had an appraised value (fair market value) of P2,000,000 and original cost of P1,400,000. The building had an appraised value of P3,000,000 and original cost of P2,800,000.

Purchased an office building and the land on which it is located for P7,500,000 cash and assumed an existing P2,500,000 mortgage. For realty tax purposes, the property is assessed at P9,600,000, 60% of which is allocated to the building.

What is the amount should be reported as total cost of land and building, respectively?

P6,160,000 and P9,240,000

P6,000,000 and P9,000,000

P5,840,000 and P8,760,000

P5,000,000 and P7,760,000