Chad Corporation purchased a tract of land for $765,000, which included a warehouse and office building.The following data were collected concerning the property:
What are the appropriate amounts that Chad should record for the land, warehouse, and office building, respectively?
A) land, $250,000; warehouse, $150,000; office building, $300,000
B) land, $300,000; warehouse, $200,000; office building, $400,000
C) land, $273,214; warehouse, $163,929; office building, $327,857
D) land, $255,000; warehouse, $170,000; office building, $340,000
Correct Answer:
Verified
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