Tonto Company Purchased Property for $280,000

question 235

Multiple Choice

Tonto Company purchased property for $280,000.The property included a building,equipment and land.The building was appraised at $173,600,the land at $126,000,and the equipment at $50,400.What is the amount of cost to be allocated to the building in the accounting records?

• A)$93,333
• B)$138,880
• C)$173,600
• D)$280,000