On April 1, Renner Corporation purchased for $855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the
What are the appropriate amounts that Renner should record for the land, warehouse, and office building, respectively?
A) Land, $280,000; warehouse, $180,000; office building, $340,000.
B) Land, $300,000; warehouse, $200,000; office building, $400,000.
C) Land, $299,250; warehouse, $192,375; office building, $363,375.
D) Land, $285,000; warehouse, $190,000; office building, $380,000.
Correct Answer:
Verified
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