The company paid $500,000 to buy a collection of assets. The assets had the following appraised…

The company paid $500,000 to buy a collection of assets. The assets had the following appraised values:Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $120,000Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000Compute the cost to be allocated to each asset.View Solution:
The company paid 500 000 to buy a collection of assets

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