Company X bought from Company Y land and an accompanying warehouse for $800,000. The fair market values
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Company X bought from Company Y land and an accompanying warehouse for $800,000. The fair market values of the land and the building at the time of purchase were $700,000 and$300,000, respectively. How much of the purchase price should Company X allocate to land? How much to the building?
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1285183237
9th edition
Authors: Gary A. Porter, Curtis L. Norton
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