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8) T purchased the Corner Bakery for $160,000. The appraisal values of the assets were as follows: Inventory and supplies $ 5,000 Equipment 40,000 Building
8) T purchased the Corner Bakery for $160,000. The appraisal values of the assets were as follows:
Inventory and supplies $ 5,000 Equipment 40,000 Building 60,000 Land 25,000 Secret formulas 20,000 Goodwill 30,000 Total $ 180,000
What are the Class VII, Class VI, Class IV and V assets?
What is the allocation for Form 8594?
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