Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of

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Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of the land, building and equipment are $300,000, $600,000 and $300,000, respectively. What is the cost assigned to the equipment?

Select one:

a. $200,000

b. $250,000

c. $333,333

d. $300,000

Related Book For answer-question

Accounting

ISBN: 978-1337899451

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Posted Date: Dec 22, 2022 02:59 AM

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Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of

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