Mehran Company purchased a factory, on January 1, 2020 for lump sum of RO 250,000 paid via

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Mehran Company purchased a factory, on January 1, 2020 for lump sum of RO 250,000 paid via bank. The fair value of each of component of the purchase is given below. Calculate the amount at which Equipment shall be recognized on purchase date?

Assets	Fair Market Value
Land	324,000
Building	44,000
Equipment	32,000

a. OMR 202,500

b. OMR 20,000

c. OMR 27,500

d. OMR 32,000

Related Book For answer-question

Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: Jun 07, 2022 06:39 AM

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Mehran Company purchased a factory, on January 1, 2020 for lump sum of RO 250,000 paid via

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Intermediate accounting

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