Cantor Corporation purchased a manufacturing facility on four acres of land for a lump sum price of
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- Cantor Corporation purchased a manufacturing facility on four acres of land for a lump sum price of $8,000,000. The building included used but functional equipment. Based on independent appraisals, the fair values were $4,500,000, $3,000,000, and $2,500,000 for the building, land, and equipment, respectively.
- What would be the initial values of the building, land and equipment?
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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