A Company Acquired Property That Included Land,building and Equipment for a Total

question 175

Multiple Choice

A company acquired property that included land,building and equipment for a total cost of $163,000.The land was appraised at $87,500,the building at $35,000,and the equipment at $52,500.What should be the allocation of the total cost in the accounting records?

• A)Land $75,000;Building $30,000;Equipment $45,000
• B)Land $75,000;Building $30,800;Equipment $46,200
• C)Land $87,500;Building $35,000;Equipment $52,500
• D)Land $81,500;Building $32,600;Equipment $48,900

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