Land, buildings, and equipment are acquired for a lump sum of $950,000. The market values of the three assets are respectively, $200,000, $500,000, and $300,000. What is the cost assigned to the building?

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A

$190,000

B

$475,000

C

$500,000

D

$555,556

The payment of a stock dividend would appear as a cash outflow in the financing activities section on a statement of cash flows.

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A

True

B

False

est Company acquired land and buildings for $1,500,000. The land is appraised at $475,000 and the buildings are appraised at $775,000. The debit to the Buildings account will be:

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	A	$930,000
	B	$775,000
	C	$712,500
	D	$570,000