Bingo Corporation Has Acquired a Property That Included Both Land

question 154

Multiple Choice

Bingo Corporation has acquired a property that included both land and a building for $520,000.The corporation hired an appraiser who has determined that the market value of the land is $320,000 and that of the building is $400,000.At what amount should the corporation record the cost of the building? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

• A)$224,000
• B)$291,200
• C)$260,000
• D)$374,400

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Definitions:

Keratinized Cells

Cells that are filled with the protein keratin, making them tough and water-resistant, as seen in skin, hair, and nails.

Lunula

The lunula is the crescent-shaped white area at the base of a fingernail or toenail, visible as part of the nail's growth area.

Hair Papilla

A small, cap-shaped cluster of cells located at the base of the hair follicle, playing a crucial role in hair growth.

Capillaries

Capillaries are the smallest blood vessels in the body's circulatory system, facilitating the exchange of water, oxygen, carbon dioxide, and many other nutrients and waste substances between blood and surrounding tissues.