Solution-At what amount should corporation record the cost

At what amount should corporation record the cost of land

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Question - Millburn Corporation has acquired a property that included both land and a building for $560,000. The corporation hired an appraiser who has determined that the market value of the land is $310,000 and that of the building is $410,000. At what amount should the corporation record the cost of land?

A. $240,300

B. $133,300

C. $230,000

D. $430,300

Reference no: EM132527962

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At what amount should corporation record the cost of land

Reference no: EM132527962

Reference no: EM132527962

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