50 Riverboat Adventures pays $310,000 plus $15,000 in closing costs to purchase real estate. The real estate consists of land appraised at $35,000, a building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the land. 02:34:04 Multiple Choice O $93,000. $140,000. O $32,500.
50 Riverboat Adventures pays $310,000 plus $15,000 in closing costs to purchase real estate. The real estate consists of land appraised at $35,000, a building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the land. 02:34:04 Multiple Choice O $93,000. $140,000. O $32,500.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:50
Riverboat Adventures pays $310,000 plus $15,000 in closing costs to purchase real estate. The real estate consists of land appraised at $35,000, a
building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the land.
02:34:04
Multiple Choice
O $93,000.
$140,000.
O $32,500.
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