Question
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,565,000. Harding paid $770,000 and issued a note payable for
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,565,000. Harding paid $770,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $736,640; Building, $2,497,360 and Equipment, $794,000.
What value will be recorded for the building?
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Advanced Accounting
Authors: Debra C. Jeter, Paul Chaney
5th Edition
978-1118098615
