A Company Purchased Property for $100,000

question 197

Multiple Choice

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $45,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:

• A) $0.
• B) $36,000.
• C) $42,000.
• D) $45,000.
• E) $100,000.

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Definitions:

Prenatal Care

Medical and health care provided to expectant mothers during pregnancy, aiming to monitor and promote the well-being of both the mother and the fetus.

Low-birth-weight Infants

Babies born with a weight of less than 2,500 grams (about 5.5 pounds), which can lead to various health challenges.

United States

A country located primarily in North America, consisting of 50 states and a federal district, known for its diverse cultures and historical significance.

Free Care

Healthcare services provided without charge to the patient, often funded by charitable organizations, government programs, or healthcare providers as a form of social service.