Harbor Company made a basket purchase. Specifically, the Company paid cash to purchase land, a building and equipment. The appraised market value of the individual items was greater that the purchase price. Which of the following shows how this purchase will affect a company$$s financial statements?

Balance sheet Income Statement Statement of Cash Flows

Assets $=$ Liabilities $+$ Equity Revenues $$ Expenses $=$ Net Income

A$.+=$ NA $++$ NA $$ NA $=$ NA $+$ IA

B$.+=$ NA $+++$ NA $=++$ OA

C$.+/-=$ NA $+$ NA NA $$ NA $=$ NA $$ OA

D$.+/-=$ NA $+$ NA NA $$ NA $=$ NA $$ IA

Multiple Choice

Option A

Option B

Option C

Option D