Cold Stone Bakery purchases land, building, and equipment for a single purchase price of $520,000. However, the estimated fair values of the land, building, and equipment are $186,000, $372,000, and $62,000, respectively, for a total estimated fair value of $620,000. Required: Determine the amounts Cold Stone should record in the separate accounts for the land, the building, and the equipment. Land Building Equipment Total Estimated Fair Value Allocation Percentage % % % Amount of Basket Purchase Recorded Amount

Cold Stone Bakery purchases land, building, and equipment for a single purchase price of $520.000. Howeves, the estimated tair values of the land, buliding, and equipment are $186,000,$372,000, and $62,000, respectively, for a total estimated falir value of $620000 Required: Determine the amounts Cold Stone should record in the separate accounts for the land, the bulding. and the equipinent