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:

Social Norms

Unwritten rules that govern the behavior of individuals within a society or group, influencing how people act in specific situations.

Unlearned Instinct

Pertains to an innate behavior or response that an organism is born with, not acquired through learning or experience.

Human Aggression

Behaviours or actions by a person meant to harm or intimidate another person.

Amygdala

A part of the brain involved in emotional processing, including fear, anxiety, and aggression.