Recorded Amount | |
Land | 384300*73200/(73200+268400+97600) = $64050 |
Building | 384300*268400/439200 = $234850 |
Equipment | 384300*97600/439200 = $85400 |
Question 6 Cullumber Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment...
Sheridan Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $441,000. The estimated fair values of the assets are land $84,000, building $308,000, and equipment $112,000. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.)
Crane Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $428,400. The estimated fair values of the assets are land $81,600, building $299,200, and equipment $108,800. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.) Recorded Amount Land $ Building Equipment $
Brief Exercise 10-06 Blossom Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $434,700. The estimated fair values of the assets are land $82,800, building $303,600, and equipment $110,400. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.) Recorded Amount Land Buildings Equipments LINK TO TEXT LINK TO VIDEO
Mohave Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $315,000. The estimated fair values of the assets are land $60,000, building $220,000, and equipment $80,000. At what amounts should each of the three assets be recorded?(Round final answer to 0 deciaml places, e.g. 5,275.) Recorder Amount Land Building Equipment
Brief Exercise 10-6 Martinez Int. purchased land, building, and equipment from Laguna Carpet for a cath a t $352.000. The estimated for values of the assets are and $67,200, buiding $246,400, and equipment 589,600. At what amounts should each of the three sts be recorded (Round intermediate percentage calculations to 5 decimal places eg.18.25124 and final answer to o decimal places... 5.275.) Recorded Amount Land Building Equment
7) Apple Inc. purchased land, building, and equipment from Orange Inc. for a cash payment of $315,000. The estimated fair values of the assets are land $60,000, building $220,000, and equipment $80,000. What is the total amount at which these three assets should be recorded? a. $315,000 b. $360,000 c. $315,000 d. $300,000
Cullumber purchased land and a building on April for 398,400.
The company paid 123,600 in cash and signed a 5% note payable
Problem 9-6A Cullumber Company purchased land and a building on April 1, 2019, for $398,400. The company paid $123,600 in cash and signed a 5 % note payable for the balance. At that time, it was estimated that the land was worth $159,000 and the building, $239,400. The building was estimated to have a 25-year useful life with...
Lynx Corp. purchased land, a building, and equipment from Cat Inc., for a cash payment of $306,000. An independent estimator valued the land at $60,000, the building at $220,000, and the equipment at $80,000. Give the journal entry for Lynx to record this purchase.
Red Rock Bakery purchases land, building, and equipment for a single purchase price of $280,000. However, the estimated fair values of the land, building, and equipment are $114,000, $209,000, and $57,000, respectively, for a total estimated fair value of $380,000. Required: Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment. Estimated Fair Value Allocation Percentage Amount of Basket Purchase Recorded Amount Land Building Equipment Total
Pina Co. purchased for $2,422,000 property that incuded both land and a building to be used in operations. The sellers book value was $304,000 for the land and $855,000 for the building. By appraisal, the fair value was estimated to be $818,670 for the land and $1,910,230 for the building. At what amount should Pina report the land and the building at the end of the year? (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answers to...