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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Definitions:

Emotional Intelligence

The ability to understand, use, and manage emotions in positive ways to relieve stress, communicate effectively, empathize with others, and overcome challenges.

Interactions

Exchanges or communications between two or more entities, often leading to a mutual influence or outcome.

Exercise of Leadership

The implementation and practice of guiding and influencing others to achieve a common goal.

Management

The process of planning, organizing, leading, and controlling resources effectively to achieve organizational goals.