On May 72014 Shane Corporation purchased for $450000 a tractof land on which was located a warehouse and an office buildingThe following data were collected concerning the property Current
On May 7, 2014, Shane Corporation purchased for $450,000 a tractof land on which was located a warehouse and an office building.The following data were collected concerning the property:
|
Current
|
Vendor's
|
|
Assessed
|
Original
|
|
Valuation
|
Cost
|
Land
|
$100,000
|
$ 70,000
|
Warehouse
|
80,000
|
80,000
|
Office building
|
220,000
|
150,000
|
|
$400,000
|
$300,000
|
What are the appropriate amounts that Shane should record for theland, warehouse, and office building, respectively?
mahesh
24-Mar-2020