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A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should
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A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:

User JBuenoJr
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5 votes

Answer:

Land should be recorded at = 100000*35000/(62000+35000+18000)

= $30435

Step-by-step explanation:

User Don Lun
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