The co. acquired a manufaturing facility on four acres of land for a lump sum pr

Question

The co. acquired a manufaturing facility on four acres of land for a lump sum price of $8,000,000. The building included used but funtional equipment. Accourding to independent appraisles the fair values were $4,500,00, $3,000,000 and $2,500,000 for the building land and equipment respectly. The initial values of the building land and equipment would be

Building                                               land                                       equipment

a $4500,000                                       3,000,000                                                  25000,000

b 4500,000                                            3,000,000                            500,000

c 3600,000                                            24000,000                               2,000,000

d none

Explanation / Answer

C) BUILDING(3600,000) LAND( 24000,000 ) EQUIPMENT( 2,000,000)

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