Homework SourseOn July 1 2011 Matrix Inc purchased land and a building for
| On July 1, 2011 Matrix Inc. purchased land and a building for a lump sum of $6,700,000. The appraised | |||||||
| values are Land $4,550,000 and Building $1,950,000. At what value will be Building be recorded? | |||||||
| A. | $6,700,000 | ||||||
| B. | $4,550,000 | ||||||
| C. | $1,950,000 | ||||||
| D. | $2,010,000 | ||||||
| On July 1, 2011 Matrix Inc. purchased land and a building for a lump sum of $6,700,000. The appraised | |||||||
| values are Land $4,550,000 and Building $1,950,000. At what value will be Building be recorded? | |||||||
| A. | $6,700,000 | ||||||
| B. | $4,550,000 | ||||||
| C. | $1,950,000 | ||||||
| D. | $2,010,000 | ||||||
Solution
C. $1,950,000
is Correct
