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! Required information [ The following information applies to the questions displayed below. ] On January 1 , Mitzu Company pays a lump - sum

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Required information
[The following information applies to the questions displayed below.]
On January 1, Mitzu Company pays a lump-sum amount of $2,650,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $690,000, with a useful life of 20 years and a $75,000 salvage value. Land Improvements 1 is valued at $570,000 and is expected to last another 19 years with no salvage value. The land is valued at $1,740,000. The company also incurs the following additional costs.Required:
Allocate the costs incurred by Mitzu to the appropriate columns and total each column.
\table[[Allocation of Purchase Price,\table[[Appraised],[Value]],\table[[Percent of],[Total],[Appraised],[Value]],x,\table[[Total cost of],[acquisition]],=,Apportioned Cost],[Land,,,\times ,,=,,],[Building 2,,,\times ,,=,,],[Land Improvements 1,,,\times ,,=,,],[Totals,$,0%,,,,$,0],[,Land,Building 2,,Building 3,,\table[[Land],[Improvements 1]],\table[[Land],[Improvements 2]]],[Purchase Price,,,,,,,],[Demolition,,,,,,,],[Land grading,,,,,,,],[New building (Construction cost),,,,,,,],[New improvements,,,,,,,],[Totals,$,$,0,$,0,$,$]]
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