Brielle Phan, Attorney at Law purchased an office building with the accompanying land for $$1,200,000.$ The latest

tax assessment records value this property as follows: Land at $$414,986$ and Building at $$573,921.$

$6$ Points

If you find yourself getting stuck trying to complete this problem here is a link to a video of me solving a very

similar problem. $($Ignore any part that refers to My Open Math as these problems are now being done in these

Excel spreadsheets.$)$

  

Requirement: How will Brielle allocate the cost of this property on the books of her law firm?

Round percents to two decimal places. For example, $0\mathrm{.}453278$ would be $45\mathrm{.}33\%$ when the percent is rounded

to two decimal places.

Round final answer to the nearest dollar.

Cost allocated to Land:

Cost allocated to Building:

This Excel Worksheet was created by Amy Bohrer, CPA and is licensed under a Creative Commons Attribution $4\mathrm{.}0$ International License.

Answer rating: 100% (QA)

To allocate the cost of the property on the books of Brielles law firm well use the proportions of t... View the full answer