acc 422 final exam
Question 12
Pearl Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $459,900. The estimated fair values of the assets are land $87,600, building $321,200, and equipment $116,800. At what amounts should each of the three assets be recorded?
(Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.)
(Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.)
| Recorded Amount | ||
| Land |
$
 |
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