Cantor Corporation Acquired a Manufacturing Facility on Four Acres of Land

question 33

Short Answer

Cantor Corporation acquired a manufacturing facility on four acres of land for a lump-sum price of $8,000,000.The building included used but functional equipment.According to independent appraisals,the fair values were $4,500,000,$3,000,000,and $2,500,000 for the building,land,and equipment,respectively.The initial values of the building,land,and equipment would be:

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Definitions:

Total Revenue

The comprehensive amount of financial earnings a company gathers from its sales and services over a designated period.

Elastic Demand Curve

A demand curve that indicates a high responsiveness or sensitivity of quantity demanded to a change in price.

Shell-brand Gasoline

A type of fuel sold under the Shell brand name, which is a global group of energy and petrochemical companies.

Heating Oil

A low viscosity, liquid petroleum product used as a fuel oil for furnaces or boilers in buildings.