P Company bought some assets from Gray construction. Which was disposing of its road construction division. The assets purchased and their appraisal values are given below.

   Asset                                      Appraisal Value

Bulldozers                                    Birr       50,000

Dump Truck                                              100,000

Scrapers                                                    150,000

Excavators                                                 300,000

Total                                             Birr   600,000

Required:-

Assuming that P Company paid birr 500,000 for all assets acquired, help me to prepare schedule showing the allocation of total cost among the asset acquired

Answer rating: 100% (QA)

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