On July 1, 2011 Matrix Inc. purchased land and a building for a lump sum of $6,7

Question

On July 1, 2011 Matrix Inc. purchased land and a building for a lump sum of $6,700,000. The appraised values are Land $4,550,000 and Building $1,950,000. At what value will be Building be recorded? A. $6,700,000 B. $4,550,000 C. $1,950,000 D. $2,010,000 On July 1, 2011 Matrix Inc. purchased land and a building for a lump sum of $6,700,000. The appraised values are Land $4,550,000 and Building $1,950,000. At what value will be Building be recorded? A. $6,700,000 B. $4,550,000 C. $1,950,000 D. $2,010,000

Explanation / Answer

C. $1,950,000

is Correct

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