Current Attempt in Progress Cullumber Corporation purchased a tract of land for $1092000, which included a...

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Current Attempt in Progress Cullumber Corporation purchased a tract of land for $1092000, which included a warehouse and office building. The following data were collected concerning the property: Land Warehouse Office building Current Assessed Valuation $304000 208000 427000 $939000 Vendor's Original Cost $263000 O land, $263000; warehouse, $173000; office building, $312000 O land, $353534; warehouse, $241891; office building, $496575 O land, $304000; warehouse, $208000; office building, $427000 O land, $383952; warehouse, $252561; office building, $455487 173000 312000 $748000 What are the appropriate amounts that Cullumber should record for the land, warehouse, and office building, respectively? Current Attempt in Progress Cullumber Corporation purchased a tract of land for $1092000, which included a warehouse and office building. The following data were collected concerning the property: Land Warehouse Office building Current Assessed Valuation $304000 208000 427000 $939000 Vendor's Original Cost $263000 O land, $263000; warehouse, $173000; office building, $312000 O land, $353534; warehouse, $241891; office building, $496575 O land, $304000; warehouse, $208000; office building, $427000 O land, $383952; warehouse, $252561; office building, $455487 173000 312000 $748000 What are the appropriate amounts that Cullumber should record for the land, warehouse, and office building, respectively?

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The image presents a question about how to allocate the cost of a property purchased by Cullumber Corporation The property purchased includes land a w... View the full answer