Creel Company purchased four assets for $265,000. The following information is available concerning the assets purchased:...
Creel Company purchased four assets for $265,000. The following
information is available concerning the assets purchased:
Market Value Cost Assigned
Asset A ............ $71,280 ?
Asset B ............ ? ?
Asset C ............ ? $87,450
Asset D ............ $41,580 $37,100
Calculate the cost assigned to Asset B.Homework Answers
Cost to market value ratio = $37100/$41580*100 = 89.23%
Cost assigned to asset A = $71280*89.23% = $63600
Cost assigned to asset B = Total cost - cost of other 3 assets
= $265000 - $63600 - $87450 - $37100
= $76850
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Creel Company purchased four assets for $265,000. The following
information is available concerning the assets purchased:...
I'm not sure with my answer. Creel Company purchased four assets for $265,000. The following information...
I'm not sure with my answer.
Creel Company purchased four assets for $265,000. The following information is available concerning the assets purchased: Assigned Market Value $71,280 Asset A.. Asset B Asset C. Asset D $87,450 $37,100 $41, 580 Calculate the cost assigned to Asset B. 76,850
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I'm not sure with my answer.
Creel Company purchased four assets for $265,000. The following information is available concerning the assets purchased: Assigned Market Value $71,280 Asset A.. Asset B Asset C. Asset D $87,450 $37,100 $41, 580 Calculate the cost assigned to Asset B. 76,850
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