Farmdale Company purchased three assets for $400,000. These assets have fair market values as follows: If you were Farmdale's accountant, how much of the lump sum purchase would you allocate to the land?
a. $75,000
b. $120,000
c. $200,000
d. $80,000

Question

Farmdale Company purchased three assets for $400,000. These assets have fair market values as follows:  If you were Farmdale's accountant, how much of the lump sum purchase would you allocate to the land? 
a. $75,000
b. $120,000
c. $200,000
d. $80,000

Quizplus · Accepted Answer

The Answer of Farmdale Company purchased three assets for $400,000. These assets have fair market values as follows:  If you were Farmdale's accountant, how much of the lump sum purchase would you allocate to the land? 
a. $75,000
b. $120,000
c. $200,000
d. $80,000

Farmdale Company Purchased Three Assets for $400,000