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A company acquired an office building on three acres of land for a lump-sum price of $3,150,000. The building was completely equipped. According to independent

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A company acquired an office building on three acres of land for a lump-sum price of $3,150,000. The building was completely equipped. According to independent appraisals, the fair values were $1,680,000, $2,800,000, and $1,120,000 for the building, land, and equipment, respectively. At what amount would the company record the building? Multiple Choice $1,700.000 None of these answer choices are correct, $2,740,000 O $945,000 The balance sheet of Cattleman's Steakhouse shows assets of $103,200 and liabilities of $29,000. The fair value of the assets is $111,000 and the fair value of its liabilities is $29,000. Longhorn paid Cattleman's $137,000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of: Multiple Choice $55,000 $26,000. $93,600. $38,600

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