Little Construction Ltd. bought land, a building, and equipment for a lump-sum of $600,000. Following are the appraised fair market values of the newly acquired assets: $$\begin{array} { l r }
\text { Land } & \$ 200,000 \
\text { Building } & 300,000 \
\text { Equipment } & 150,000
\end{array}$$ Determine the cost of each asset. Round to the nearest dollar if necessary. Land$\quad\quad ------$
Building$\quad\quad -----$
Equipment$\quad\quad -----$

Question

Little Construction Ltd. bought land, a building, and equipment for a lump-sum of $600,000. Following are the appraised fair market values of the newly acquired assets: $$\begin{array} { l r } 
\text { Land } & \$ 200,000 \
\text { Building } & 300,000 \
\text { Equipment } & 150,000
\end{array}$$ Determine the cost of each asset. Round to the nearest dollar if necessary. Land$\quad\quad ------$
Building$\quad\quad -----$
Equipment$\quad\quad -----$

Quizplus · Accepted Answer

The Answer of Little Construction Ltd. bought land, a building, and equipment for a lump-sum of $600,000. Following are the appraised fair market values of the newly acquired assets: $$\begin{array} { l r } 
\text { Land } & \$ 200,000 \
\text { Building } & 300,000 \
\text { Equipment } & 150,000
\end{array}$$ Determine the cost of each asset. Round to the nearest dollar if necessary. Land$\quad\quad ------$
Building$\quad\quad -----$
Equipment$\quad\quad -----$

Little Construction Ltd Land $200,000 Building 300,000 Equipment 150,000\begin{array} { l r } \text { Land } & \$ 200,000 \\\text { Building } & 300,000 \\\text { Equipment } & 150,000\end{array} Land Building Equipment ​$200,000300,000150,000​

Little Construction Ltd $\begin{array} { l r } \text { Land } & \$ 200,000 \\\text { Building } & 300,000 \\\text { Equipment } & 150,000\end{array}$