Use the Following Information to Answer Questions

question 93

Multiple Choice

Use the following information to answer questions
Jamison Company purchased the assets of Booker Company at an auction for $1,400,000.An independent appraisal of the fair value of the assets is listed below:
-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)$529,730
• B)$700,000
• C)$1,275,000
• D)$384,314

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