Riverboat Adventures pays $310,000 plus $15,000 closing costs to acquire a competitor. The property consists of $35,000 worth of land, $105,000 worth of buildings and $210,000 worth of pedal boats. Calculate the cost that should be allocated to the building.

Answer rating: 100% (QA)

To allocate the cost of the acquisition to the buildings we need to determine the proportion ... View the full answer