Lian Company purchased property with a warehouse and parking lot for $1,500,000. An appraiser valued the components

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Lian Company purchased property with a warehouse and parking lot for $1,500,000. An appraiser valued the components of the property if purchased separately as follows:

Land .......... $ 400,000

Land improvements .... 200,000

Building ........ 1,000,000

Total ......... $1,600,000

Determine the costs to be assigned to each components.

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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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Question Posted: Feb 23, 2012 02:22 AM

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Lian Company purchased property with a warehouse and parking lot for $1,500,000. An appraiser valued the components

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Asset Appraisal Percentage Apportionment Land 400000 ...View the full answer

Principles of Accounting

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