Osborne company acquired three machines for $200,000 in a package deal. The three assets together had a
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Question:
Osborne company acquired three machines for $200,000 in a package deal. The three assets together had a book value of $160,000 on the seller’s books. An appraisal costing the purchaser $2,000 indicates that the three machines had the following market value (book values are given in parentheses)
Machine 1. Machine 2. Machine 3
A). $40,000. $53,333. $66,667
B). $50,000. $62,500. $87,500
C). $40,000. $50,000. $70,000
D). $50,500. $67,333. $84,167
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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