FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Riverboat Adventures pays $310,000 plus $15,000 in closing costs to purchase real estate. The real estate consists of land appraised at $35,000, a building appraised at $105,000, and land improvements appraised at $210,000. Compute the cost that should be allocated to the building.
Multiple Choice
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$97,500.
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$105,000.
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$89,178.
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$140,000.
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$93,000.
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