Smith Industries acquired a group of assets for $540,000. The assets and their market values are: Land: $200,000 Equipment: $150,000 Building: $250,000 What amount should be recorded for the Land? a. $200,000 b. $180,000 c. $150,000 d. $225,000

Calculate and allocate basis for the following problems. 1. A property is acquired for a purchase price of $230,000 cash plus acquisition costs of $20,000. The tax assessment for this property is as follows: Assessed Value Land Improvements Total assessments $40,000 160,000 $200,000 a. What is the acquisition basis for this property? b. What is the allocation for land? c. What is the allocation for improvements?

Investment Property Determine the cost of the following items of investment acquired by Sasha Corporation during 2022; Land site for capital appreciation was acquired for P8,600,000. The company paid P430,000 commission to a real estate agent. Costs of P 135,000 were incurred to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for P 65,000. The cost of investment property is _____________ Land and building were acquired to be held for under operating leases. The company made a de payment of P4,000,000, issued 20,000 P200 par ordinary shares with a market price of P240 per share, and issued a three-year non-interest-bearing note for P6,000.000 note is payable in equal annual installments of P2,000,000 at the end of each year from the date of purchase. The prevailing interest rate for similar notes is 10%. 30% of the purchase price is allocated to the land. Investment property is recorded at __________

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WinCo Foods purchased land and a building for a total price of $2,080,000. Individually, the land was appraised at $336,000 and the building at 1,904,000. How much should be recorded as the acquisition cost of each asset? Select one: a. Land $320,000; Building $1,760,000 b. Land $312,000; Building $1,768,000 c. Land $336,000; Building $1,904,000 d. Land $336,000; Building $1,744,000 e. Land $1,040,000; Building $1,040,000

​Land, a building and equipment are acquired for a lump sum of $900,000. The market values of the land, building an equipment are $500,000, $600,000 and $200,000, respectively. What is the cost  assigneed to the equipment? (Do not round to any intermediary calculations and round your final answer to the nearest dollar).  A. $0 B. $900,000 C. $200,000 D. $138,462 thnaka sfor help  appareicated

Whta value should be allocated to the building?

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These expenditures were incurred by Blossom Company in purchasing land: cash price $55,000, assumed accrued property taxes $4,500, attorney's fees $2,100, real estate broker's commission $3,000, and clearing and grading $4,000. What is the cost of the land? The cost of the land 73900

General accounting