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Business, 18.08.2020 15:01 a6igai1

Schwartzkopf Co. purchased for $2,088,000 property that included both land and a building to be used in operations. The seller's book value was $294,000 for the land and $986,000 for the building. By appraisal, the fair value was estimated to be $826,355 for the land and $2,023,145 for the building. At what amount should Schwartzkopf report the land and the building at the end of the year?

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Schwartzkopf Co. purchased for $2,088,000 property that included both land and a building to be used...

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