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What are the appropriate amounts that mooney should record

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On April 1, Mooney Corporation purchased for $1,620,000 a tract of land on which a warehouse and office building was located. The following data were collected concerning the property:

Current                Assessed Valuation Vendor's         Original Cost
Land                        $600,000                                    $560,000
Warehouse                  400,000                                   360,000
Office Building                800,000                                  680,000
                         $1,800,000.                                        $1,600,000

Problem 1: What are the appropriate amounts that Mooney should record for the land, warehouse, and office building, respectively?

Reference no: EM132767253

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