A company acquired an office building on three acres of land for a lump-sum price...
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Accounting
A company acquired an office building on three acres of land for a lump-sum price of $2,500,000. The building was completely equipped. According to independent appraisals, the fair values were $1,200,000 $900,000, and $900,000 for the building, land, and equipment, respectively. At what amount would the company record the building? Multiple Choice $1,220,000. $1,000,000 O None of these answer choices are correct. $840,000
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