Question: with solution please Question 42 2 pts On April 1, Mighty Corporation purchased for P855,000 a tract of land on which was located a warehouse
Question 42 2 pts On April 1, Mighty Corporation purchased for P855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land P300,000 P280,000 Warehouse 200,000 180,000 Office building 400.000 340,000 P900.000 P800,000 What are the appropriate amounts that Mighty should record for the land, warehouse, and office building, respectively? Land, P285.000; warehouse, P190,000; office building, P380,000 O Land, P300,000; warehouse, P200,000; office building. P400,000 Land, P280,000, warehouse, P180.000; office building, P340,000. O Land, P299,250; warehouse, P192.375: office building, P363,375
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
