Mode 6- Lump Sum Acquisition 9) On April 1. 2022. Pacific Corporation purchased for P2.700.000 a tract of land, a warehouse and an office building. The following data were collected regarding the property. Fair values Vendors' book value Land Warehouse Office building 700,000 400,000 975,000 875,000 375.000 1.000.000 The appropriate amounts that Pacific should record for the land? A 700,000 B. C. D. 875,000 945,000 1,050,000

Mode 6- Lump Sum Acquisition 9) On April 1. 2022. Pacific Corporation purchased for P2.700.000 a tract of land, a warehouse and an office building. The following data were collected regarding the property. Fair values Vendors' book value Land Warehouse Office building 700,000 400,000 975,000 875,000 375.000 1.000.000 The appropriate amounts that Pacific should record for the land? A 700,000 B. C. D. 875,000 945,000 1,050,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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