Brief Exercise 10-6 Sarasota Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $321,300. The estimated fair values of the assets are land $61,200, building $224,400, and equipment $81,600. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.. and final answers to 0 decimal places, e.g. 5,275.) Recorded Amount Land Building Equipment $ $ $
Brief Exercise 10-6 Sarasota Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $321,300. The estimated fair values of the assets are land $61,200, building $224,400, and equipment $81,600. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.. and final answers to 0 decimal places, e.g. 5,275.) Recorded Amount Land Building Equipment $ $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Brief Exercise 10-6
Sarasota Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $321,300. The estimated fair values of the assets are land $61,200, building
$224,400, and equipment $81,600. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.
and final answers to 0 decimal places, e.g. 5,275.)
Recorded Amount
Land
Building
Equipment
$
$
$
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