XYZ purchased a plant,including land,building,and machinery,for $110,000.These items were carried on the books of the seller as follows: land,$30,000; building,$80,000,and machinery,$40,000.Immediately after the purchase,the assets were appraised at the following values: land,$24,000; building,$30,000,and machinery,$66,000.What cost should XYZ record for the land,building and machinery? $$\begin{array} { | l | l | l | l | }
\hline & \text { Land } & \text { Building } & \text { Machinery } \
\hline 1 & \$ 22,000 & \$ 27,500 & \$ 60,500 \
\hline 2 & \$ 36,666 & \$ 36,667 & \$ 36,667 \
\hline 3 & \$ 30,000 & \$ 80,000 & \$ 40,000 \
\hline 4 & \$ 22,000 & \$ 58,667 & \$ 29,333 \
\hline
\end{array}$$

Question

XYZ purchased a plant,including land,building,and machinery,for $110,000.These items were carried on the books of the seller as follows: land,$30,000; building,$80,000,and machinery,$40,000.Immediately after the purchase,the assets were appraised at the following values: land,$24,000; building,$30,000,and machinery,$66,000.What cost should XYZ record for the land,building and machinery? $$\begin{array} { | l | l | l | l | } 
\hline & \text { Land } & \text { Building } & \text { Machinery } \
\hline 1 & \$ 22,000 & \$ 27,500 & \$ 60,500 \
\hline 2 & \$ 36,666 & \$ 36,667 & \$ 36,667 \
\hline 3 & \$ 30,000 & \$ 80,000 & \$ 40,000 \
\hline 4 & \$ 22,000 & \$ 58,667 & \$ 29,333 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of XYZ purchased a plant,including land,building,and machinery,for $110,000.These items were carried on the books of the seller as follows: land,$30,000; building,$80,000,and machinery,$40,000.Immediately after the purchase,the assets were appraised at the following values: land,$24,000; building,$30,000,and machinery,$66,000.What cost should XYZ record for the land,building and machinery? $$\begin{array} { | l | l | l | l | } 
\hline & \text { Land } & \text { Building } & \text { Machinery } \
\hline 1 & \$ 22,000 & \$ 27,500 & \$ 60,500 \
\hline 2 & \$ 36,666 & \$ 36,667 & \$ 36,667 \
\hline 3 & \$ 30,000 & \$ 80,000 & \$ 40,000 \
\hline 4 & \$ 22,000 & \$ 58,667 & \$ 29,333 \
\hline
\end{array}$$

XYZ Purchased a Plant,including Land,building,and Machinery,for $110,000 A)Choice 1 B)Choice 2 C)Choice 3 D)Choice 4

XYZ Purchased a Plant,including Land,building,and Machinery,for $110,000 A)Choice 1
B)Choice 2
C)Choice 3
D)Choice 4