Question 13 0.2 pts Birken Co, purchased a building for $600,000 in 2004. At the end of 2016, when it had a book value of $450,000, it was appraised for $1,000,000. A potential buyer offered $900,000. Birken rejected the offer. What amount should is recorded on Birken's records at the end of 2016 in the account called Buildings? $2,000,000 $800,000 $500,000 $350,000 maintenance o Question 16 0.2 pts A building with an appraisal value of $250,000 is made available at an offer price of $180,000. The purchaser acquires the property for $35,000 in cash, a 90-day note payable for $65,000, and a mortgage amounting to $63,000. The cost basis recorded in the buyer's accounting records to recognize this purchase is $250,000 $180,000 $163,000 $100,000 Question 19 Shidan Apartments purchased an apartment building to rent to university students on November 18, 2016.1 following costs were incurred during 2016, before the tenants moved in: Purchase price of the building $220,000 Purchase price of the land 100,000 Transfer taxes 10,000 Interest incurred on the mortgage loan to purchase 4,000 Attorney and real estate agent's fees 15,000 Repave the parking lot 6,000 How much will Shidan Apartments record as an asset? $320,000 $345.000 O $351,000 $355,000 Question 21 0.2 pts Oakland Corp. purchased land and a building for a combined cost of $500,000. Oakland must record the $500,000 acquisition cost in an account called Land and Buildings. depreciate the $500,000 acquisition cost, less any residual value, over the expected useful life of the building because part of the purchase involved land, record all of the cost in the Land account. allocate the $500,000 acquisition cost to separate Land and Buildings accounts based on their respective fair market values