Question
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,375,000. Harding paid $700,000 and issued a note payable for
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,375,000. Harding paid $700,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $778,920; Building, $2,161,080 and Equipment, $786,000. What value will be recorded for the building?
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International Financial Accounting And Reporting
Authors: Ciaran Connolly
6th Edition
1912350025, 978-1912350025
