Multiple Choice Question 103

On April 1, Mooney Corporation purchased for $1,620,000 a tract of land on which a warehouse and office building was located. The following data were collected concerning the property:

		Current Assessed Valuation				Vendor's Original Cost
Land			$600,000				$550,000
Warehouse			400,000				370,000
Office building			800,000				680,000
			$1,800,000				$1,600,000

What are the appropriate amounts that Mooney should record for the land, warehouse, and office building, respectively?

Land, $556,875; warehouse, $374,625; office building, $688,500.

Land, $540,000; warehouse, $360,000; office building, $720,000.

Land, $550,000; warehouse, $370,000; office building, $680,000.

Land, $600,000; warehouse, $400,000; office building, $800,000.