Lewis-Bruno Co

question 82

Short Answer

Lewis-Bruno Co.purchased 12 acres of land with an office building and warehouse on it for $2,000,000.The assets were appraised at: land $1,000,000, building $600,000, and warehouse $900,000.The assets were carried on the seller's books at: land $800,000, building $500,000, and warehouse $700,000.At what cost should the purchasing company record each of the assets? $\begin{array}{rrrr}&\text { Land } & \text { Building } & \text { Warehouse } \\\text { a. } & \$ 1,000,000 & \$ 600,000 & \$ 900,000 \\\text { b. } & \$ 800,000 & \$ 480,000 & \$ 720,000 \\\text { c. } & \$ 800,000 & \$ 500,000 & \$ 700,000 \\\text { d. } & \$ 1,000,000 & \$ 500,000 & \$ 500,000\end{array}$

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Definitions:

Chromatics

The study of color, often in relation to its properties and impacts in various contexts such as art, design, and psychology.

Color

A property of light as seen by people, primarily red, green, or blue, and perceived through sight.

Nonverbal Cues

Refers to communication without words, such as gestures, facial expressions, and body language, that convey messages or emotions.

Individual Gestures

Movements or signals made by a person, often with the hands or head, to convey an idea, feeling, or instruction.