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Zeidler Company bought a building and the land on which the building is located for...

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Accounting

Zeidler Company bought a building and the land on which the building is located for a total cash price of $179,500. The company paid transfer costs of $2,300. Renovation costs on the building were $22,050. An independent appraiser provided market values for the land, $140,000, and building, $420,000 before renovation.

Required:

1. Apportion the cost of the property on the basis of the appraised values

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Zeidler Company bought a building and the land on which the building is located for a total cash price of $179,500. The company paid transfer costs of $2,300. Renovation costs on the building were $22,050. An independent appraiser provided market values for the land, $140,000, and building, $420,000 before renovation Required: 1. Apportion the cost of the property on the basis of the appraised values (input all amounts as positive values.) Apportioned cost Item Building Land Answer is not complete. Renovation cost Purchase cost $ 22,050 0 0 S 0

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