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Makemore Company purchases a factory for $800,000. The purchase price is properly allocated 90% to the building and 10% to the land. In the first year, Makemore adds a storage shed to the building at a cost of $8,000. The utility company pays Makemore $1,500 for an easement to run utility lines across the land. A total depreciation of $45,000 is deducted over the 3 years. Determine the adjusted basis of the building and the land as of the end of year 3:
Daily Log
A personal record kept on a daily basis detailing activities, observations, or measurements, which can be useful for tracking progress or identifying trends over time.
Daily Log
A record kept every day to track activities, observations, or progress towards goals, often used for personal or professional purposes.
Disbursements Journal
A financial record used to document cash payments or cash outflows from a business.
Computer-Mediated Communication
The exchange of messages between individuals through the use of digital devices and platforms.
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