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Sheeran purchased land, a building, and equipment for one price of $800,000. The estimated fair values of the land, building, and equipment are $100,000, $700,000, and $200,000, respectively. At what amount would Sheeran record the land

Respuesta :

Zviko

Answer:

$80,000

Explanation:

Calculation of the Cost of Land based on fair value :

Land Cost = $100,000 / $1,000,000 x  $800,000

                  = $80,000

therefore,

Sheeran would record the land at $80,000

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