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On April 1, 2020, Renfro Corporation purchased land, a building, and some equipment for $633,000. The following information is avallable concerning the property purchased: Current
On April 1, 2020, Renfro Corporation purchased land, a building, and some equipment for $633,000. The following information is avallable concerning the property purchased: Current Market Value 148,350 374,100 Before the property could be used, Renfro had to spend $12,660 to renovate the building and $7,410 to put the equipment in working order. The cost that was assigned to the building totaled $379,800 Calculate the cost assigned to the equipment
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