Question
During year 1, the Commander Corporation acquired 3 pieces of machinery at an auction for a lump sum price of $240,000. In addition, Commander paid
During year 1, the Commander Corporation acquired 3 pieces of machinery at an auction for a lump sum price of $240,000. In addition, Commander paid $12,000 to have the machines installed. An appraisal disclosed the following values:
| Machine A | $50,000 |
| Machine B | $150,000 |
| Machine C | $100,000 |
What costs should be assigned to Machines A, B, and C, respectively?
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$40,000, $120,000, and $80,000
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$50,000, $150,000, and $100,000
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$84,000, $84,000, and $84,000
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$42,000, $126,000, and $84,000
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
