Use the Following Information to Answer Questions 97 & 98

question 98

Multiple Choice

Use the following information to answer questions 97 & 98.
Jamison Company purchased the assets of Booker Company at an auction for $4,200,000. An independent appraisal of the fair value of the assets is listed below:
Land .........$1,425,000
Building .....2,100,000
Equipment ...1,575,000
Trucks ..........2,550,000
-Assuming that specific identification costs are impracticable and that Jamison allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Building?

• A) $1,589,190
• B) $2,100,000
• C) $3,825,000
• D) $1,152,941

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Definitions:

Creativity

The ability to generate innovative ideas, solutions, or works that are original and valuable.

Goal

An aim or desired result that an individual or organization endeavors to achieve through effort and planning.

Pleasure

Pleasure is a feeling of happiness, enjoyment, or satisfaction derived from an experience or activity.

Irrational Belief

A distorted, unrealistic thought or assumption that can lead to unhelpful or destructive emotional outcomes and behaviors.