Hastings Company Has Purchased a Group of Assets for $350,000

question 109

Multiple Choice

Hastings Company has purchased a group of assets for $350,000.The assets and their market values are listed as follows: $$\begin{array} { | l | r | } \hline \text { Land } & \$ 125,000 \\\hline \text { Equipment } & 75,000 \\\hline \text { Building } & 200,000 \\\hline\end{array}$$ Which of the following amounts would be debited to the Land account?

• A) $125,000
• B) $109,375
• C) $65,625
• D) $175,000

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Definitions:

Reinforcement

A principle in behavioral psychology that increases the likelihood of a desired response by rewarding or punishing a behavior.

Negative Stimulus

An undesirable or harmful factor that elicits a reaction from an organism or system.

Unwanted Behaviour

Unwanted behaviour refers to actions or conduct that is deemed inappropriate, undesirable, or harmful by a society, community, or organization.

Social Recognition

The acknowledgment or validation of an individual's status or achievements by others within a social context.