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Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element: PP&E Element

/in /by

Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised

values of each element:

PP&E Element

Amount

Land

$10,000

Building 20,000

Equipment 30,000

Alpha paid $45,000 cash for the lump sum purchase. What value should be allocated to the following? (Enter only whole dollar values.)

1. Land

2. Building3. EquipmentQuestion 3 (12 points)

Bravo Company purchased equipment on October 1, 2016. Bravo paid $60,000 for equipment and paid an additional $500 for shipping and $200 to place the equipment in service. The equipment is expected to have a $6,000 residual value and a 8-year life. Bravo has a December 31 fiscal year end. Using the double-declining balance method, how much is: (Enter only whole dollar values.)

 
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