Question
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,045,000. Harding paid $210,000 and issued a note payable for
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,045,000. Harding paid $210,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $220,000; Building, $950,000 and Equipment, $730,000.
What value will be recorded for the building?
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
