Haley-Davis Inc. bought 3 used machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines

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Haley-Davis Inc. bought 3 used machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines as follows:

Machine No. Appraised Value

1......................................$27,000

2...................................... 45,000

3...................................... 36,000

What is each machine's individual cost? Immediately after making this purchase, Haley Davis sold machine 2 for its appraised value. What is the result of the sale? Round decimals to 3 places.

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Financial Accounting

ISBN: 978-0135012840

7th edition

Authors: Walter T. Harrison, Charles T. Horngren

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Question Posted: Aug 04, 2016 10:23 AM

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Haley-Davis Inc. bought 3 used machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines

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Financial Accounting

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