Riverboat Adventures pays $390,000 plus $11,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $64,500, a building appraised at $137,600, and paddleboats appraised at $227,900. Compute the cost that should be allocated to the building.

Riverboat Adventures pays $390,000 plus $11,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $64,500, a building appraised at $137,600, and paddleboats appraised at $227,900. Compute the cost that should be allocated to the building.

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Description: Riverboat Adventures pays $390,000 plus $11,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $64,500, a building appraised at $137,600, and paddleboats appraised at $227,900. Compute the cost that should be

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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