What cost should be assigned to the land, buildings, and equipment, respectively? a. $64,000, $64,000, and $64,000 b. $90,000, $60,000, and $30,000 c. $96,000, $64,000, and $32,000 d. $120,000, $80,000, and $40,000

On January 1, 2025, Abel Company purchased three assets for$400,000. The information below relates to the assets thatwere purchased:Current Market Value Forklift ................... $144,500 Bulldozer .................. $119,000 Truck ...................... $161,500In order to make the forklift usable, Abel Company had tospend $8,000 to get the forklift in working condition.Information related to the depreciation of the forkliftand the bulldozer is given below: Forklift Bulldozer Salvage value $5,400 $7,000Life 11 years 14 yearsDepreciation method sum-of-the straight-lineyears-digitsOn July 31, 2035, the bulldozer was sold for $51,000 cash.Calculate the amount of the gain recorded on the sale ofthe bulldozer. Do not enter your answer with a minus signin front of your number.

7

Manji

On January 1, 2025, Abel Company purchased three assets for$400,000. The information below relates to the assets thatwere purchased:Current Market Value Forklift ................... $144,500 Bulldozer .................. $119,000 Truck ...................... $161,500In order to make the forklift usable, Abel Company had tospend $8,000 to get the forklift in working condition.Information related to the depreciation of the forkliftand the bulldozer is given below:Forklift BulldozerSalvage value $5,400 $7,000Life 11 years 14 yearsDepreciation method sum-of-the straight-lineyears-digitsCalculate the forklift's book value at December 31, 2028

2. Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are building, $487,500; land, $302,250; land improvements, $58,500; and four vehicles, $126,750.    4. Compared to straight-line depreciation, does accelerated depreciation result in payment of less total taxes over the asset’s life?

Whispering Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $396,900. The estimated fair values of the assets are land $75,600, building $277,200, and equipment $100,800. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to O decimal places, e.g. 5,275.) Land Building Recorded Amount $ LA Equipment $ LA

First Company purchased Second Company for $19,000,000 cash. At the time of purchase, Second Company's assets had a market value of $28,000,000 and the liabilities had a market value of $13,000,000. At the time of the purchase, Second Company's assets had a book value of $15,000,000, and the liabilities had a book value of $9,000,000. What amount of goodwill is recorded?

A Ltd purchases the B Ltd for the following consideration of: Cash : $150 00 Land: carrying amount of the land is $120 000; fair value is $195 000. The statement of financial position of the B Ltd as at the date of acquisition shows assets of $390 000 and liabilities of $195 000. All assets are fairly valued except the B Ltd's building, which is in the accounts at $70 000 but has a fair value of $95 000. There are no contingent liabilities. Required: Calculate the value of goodwill? Note: Provide all workings. Do not just write the final answer.