On April 1, Rover Corporation purchased for P855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost P300,000 200,000 400,000 Land Warehouse Office building P280,000 180,000 340,000 P900,000 P800,000 What are the appropriate amounts that Rover should record for the land, warehouse, and office building, respectively? Land, P299,250; warehouse, P192,375; office building, P363,375. Land, P285,000; warehouse, P190,000; office building, P380,000. Land, P280,000; warehouse, P180,000; office building, P340,000. Land, P300,000; warehouse, P200,000; office building, P400,000.

On April 1, Rover Corporation purchased for P855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost P300,000 200,000 400,000 Land Warehouse Office building P280,000 180,000 340,000 P900,000 P800,000 What are the appropriate amounts that Rover should record for the land, warehouse, and office building, respectively? Land, P299,250; warehouse, P192,375; office building, P363,375. Land, P285,000; warehouse, P190,000; office building, P380,000. Land, P280,000; warehouse, P180,000; office building, P340,000. Land, P300,000; warehouse, P200,000; office building, P400,000.

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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