Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $900,000. According to i

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Pinewood Company Purchased Two Buildings On Four Acres Of Land The Lump Sum Purchase Price Was 900 000 According To I 1 (21.62 KiB) Viewed 12 times

Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $900,000. According to independent appraisals, the fair values were $450,000 (building A) and $250.000 (building B) for the buildings and $300,000 for the land Required: Determine the initial valuation of the buildings and the land. Asset Building A Building B Land Totals Initial Valuation $ 450,000 250,000 300,000 $ 1.000.000