A company purchased land with a building for a lump-sum cost of $2,570,000 ($500,000 paid in cash and thebalance on a long-term note). It was
A company purchased land with a building for a lump-sum cost of $2,570,000 ($500,000 paid in cash and thebalance on a long-term note). It was estimated that the land and building had market values of $600,000 and$2,400,000, respectively.
Determine the cost to be apportioned to the land and to the building.
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Authors: Horace R. Brock, Linda Herrington
6th Edition
0028034287, 978-0028034287
