Solution-Calculate the amount that should be recorded

Calculate the amount that should be recorded

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Reference no: EM13911680

Basket purchase allocation. Crow Co. purchased some of the machinery of Hare, Inc., a bankrupt competitor, at a liquidation sale for a total cost of $50,400. Crow's cost of moving and installing the machinery totaled $4,800. The following data are available:

2303_262-B-A-I-A (3440).png

Required:
a. Calculate the amount that should be recorded by Crow Co. as the cost of each piece of equipment.
b. Which of the following alternatives should be used as the appreciable life for Crow Co.'s depreciation calculation? Explain your answer.
The remaining useful life to Hare, Inc.
The life of a new machine.
The useful life of the asset to Crow Co.

Reference no: EM13911680

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Calculate the amount that should be recorded

Reference no: EM13911680

Reference no: EM13911680

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