Land,a Building and Equipment Are Acquired for a Lump Sum

question 131

Multiple Choice

Land,a building and equipment are acquired for a lump sum of $1,000,000.The market values of the land,building and equipment are $300,000,$600,000 and $300,000,respectively.What is the cost assigned to the equipment?

• A)$200,000
• B)$250,000
• C)$300,000
• D)$333,333

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