Hastings Corporation Has Purchased a Group of Assets for $21,900

question 4

Multiple Choice

Hastings Corporation has purchased a group of assets for $21,900. The assets and their relative market values are listed below. Which of the following amounts would be debited to the Land account? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

• A) $4,133
• B) $12,045
• C) $4,380
• D) $5,475

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Definitions:

Inventory Transactions

Operations or activities involving the purchase, sale, or management of stock and merchandise in a business.

QBO

Stands for QuickBooks Online, an accounting software that helps in managing business finances in the cloud.

Products and Services List

A catalog in accounting or business software that enumerates all the items or services a company sells or manages.

QBO

Stands for QuickBooks Online, a cloud-based accounting software used for business accounting and financial management.