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Requlred Informetion [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,800,000 for land, Bullding
Requlred Informetion [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,800,000 for land, Bullding 1, Bullding 2, and Land Improvements 1. Bullding 1 has no value and will be demolished. Bullding 2 will be an office and Is appraised at $570,000, with a useful life of 20 years and a $70,000 salvage value. Land Improvements 1 is valued at $510,000 and is expected to last another 17 years with no salvage value. The land is valued at $1,920,000. The company also Incurs the following additional costs. Requlred: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column
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