At what amount should the following assets be recorded on the financial statements as the year end

Question:

At what amount should the following assets be recorded on the as the year end 20X2? Justify your answers.
A) A corn planter with a list price of $212,000 was acquired for a cash payment of $199,500.
B) Mike's Farms built a barn for $212,000. Once complete, three independent appraisers agreed that the fair value of the structure was $208,000.
C) A special, limited edition Classic GTO with a list price of $85,000 that is acquired in exchange for 1,000 shares of common stock. The stock had a market value of $83 per share at the time of the exchange.
D) Nation Bank built a branch office for $2,1000,000. Following completion, two independent appraisers agreed that the fair value of the structure was $2,125,000.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...