Question
Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element: PP&E Element Amount Land
Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:
PP&E Element | Amount |
Land | $10,000 |
Building | 35,000 |
Equipment | 45,000 |
Bowie paid $65,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)
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