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-   -   Benton Corporation acquired real estate that contained land, building and equipment. (https://www.askmehelpdesk.com/showthread.php?t=706968)

  • Oct 4, 2012, 06:34 PM
    woodlewot
    Benton Corporation acquired real estate that contained land, building and equipment.
    Benton Corporation acquired real estate that contained land, building and equipment. The property cost Benton $825,000. Benton paid $175,000 in cash and issued a Note Payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $85,000; Building, $625,000; and Equipment, $250,000. What value will be recorded for the building?

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