A company purchased property for $100,000.The property included a building,equipment and land.The building was appraised at $62,000,the land at $45,000,and the equipment at $18,000 for a total appraised value of $125,000.What is the amount of cost to be allocated to the building in the accounting records?
A) $0
B) $49,600
C) $62,000
D) $100,000

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The Answer of A company purchased property for $100,000.The property included a building,equipment and land.The building was appraised at $62,000,the land at $45,000,and the equipment at $18,000 for a total appraised value of $125,000.What is the amount of cost to be allocated to the building in the accounting records?
A) $0
B) $49,600
C) $62,000
D) $100,000

A Company Purchased Property for $100,000