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Tamockcompany purchased a plant for one of his suppliers. The $965,000 purchase price included the land, a building, and factory machinery. Tamock also paid $5000
Tamockcompany purchased a plant for one of his suppliers. The $965,000 purchase price included the land, a building, and factory machinery. Tamock also paid $5000 and legal fees to negotiate the purchase at the plant. An appraisal show the following values for the items purchased:
using the assessed value as a guy, allocate the total purchase price of the plant to the land, building, and machinery account in Tamock companies records
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