1. a.You paid $360,000 cash to acquire a group of items consisting of land appraised at...

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1. a.You paid $360,000 cash to acquire a group of items consisting of land appraised at $120,000, land improvements appraised at $40,000, and a building appraised at $240,000. The $360,000 cost will be allocated on the basis of appraised values indicate both apportioned cost as well as appraised values in the tabular format. Ans: Follow the tabular format to represent both the values Asset Land Land improvement Building Total Appraised Percentage Apportioned cost of the total value b. A company purchased a special purpose machine on August 1 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Invoice price AED 125,000 Sales tax--- -AED 5250. AED 1500 Insurance charges--- Adjustments to run the machine -------- -AED 160 Electrical and power connection charges AED 220 Fines paid during the transport of the machinery------ AED 400 Damage repairs due to negligence of the worker----- AED 375 Compute the acquisition cost of the machinery. Do we take all or ignore few. If so why? 1. a.You paid $360,000 cash to acquire a group of items consisting of land appraised at $120,000, land improvements appraised at $40,000, and a building appraised at $240,000. The $360,000 cost will be allocated on the basis of appraised values indicate both apportioned cost as well as appraised values in the tabular format. Ans: Follow the tabular format to represent both the values Asset Land Land improvement Building Total Appraised Percentage Apportioned cost of the total value b. A company purchased a special purpose machine on August 1 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Invoice price AED 125,000 Sales tax--- -AED 5250. AED 1500 Insurance charges--- Adjustments to run the machine -------- -AED 160 Electrical and power connection charges AED 220 Fines paid during the transport of the machinery------ AED 400 Damage repairs due to negligence of the worker----- AED 375 Compute the acquisition cost of the machinery. Do we take all or ignore few. If so why?