Mohave inc. purchased land, building, and equipment from laguna corporation for a cash payment of $315,000. the estimated fair values of the assets are land $60,000, building $220,000, and equipment $80,000. at what amounts should each of the three assets be recorded? (round final answer to 0 deciaml places, e. g. 5,275.)

recorder amount

land

building

equipment

Recorder Amount: 315000

Land: 52500

Building: 192500

Equipment: 70000

Explanation:

Record the value with the lower of cost or fair value. Since the cost(cash price) is lower. We calculate the proportion of each asset using the fair value figures:

formula: percentage of each asset as a function of fair value multiplied by cash payment.

Total: 60000+220000+80000=360000

land=0.167(that is 60/360) * 315000 = 52500

Building=0.611 * 315000 = 192500

Equipment = 0.22*315000=70000

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.

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you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%