Question: Please answer, I will thumbs you up!! Required information [The following information applies to the questions displayod below] On January 1, Mitzu Company pays a
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Required information [The following information applies to the questions displayod below] On January 1, Mitzu Company pays a lump-sum amount of $2,650,000 for land, Building 1, Building 2, and Land Improvements 1. Buliding 1 has no value and will be demolished, Bulding 2 will be an office and is appraised at $570,000, with a useful life of 20 years and a $75,000 salvage value. Land improvements 1 is valued at $540,000 and is expected to last another 18 years with no salvage value. The land is valued at $1,890,000. The company also incurs the following additional costs. Cont to denolish burlding 1 cost of sev Land isprovetents 2 , having a 20-year useful iste and no salvage value 2,242,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column
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