he S. Sirap Co. acquired
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The S. Sirap Co. acquired Land, Building, and Equipment for a total price of $1840000. An independent appraisal of the assets at the time of purchase was as follows: Land at $500000, Building at $1200000 Equipment at $600000. Calculate in good form the cost assigned to each asset.
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