Nobells Corporation has acquired a property that included both land and a building for $500,000.The corporation hired an appraiser who has determined that the market value of the land is $300,000 and that of the building is $400,000.At what amount should the corporation record the cost of land?

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The Answer of Nobells Corporation has acquired a property that included both land and a building for $500,000.The corporation hired an appraiser who has determined that the market value of the land is $300,000 and that of the building is $400,000.At what amount should the corporation record the cost of land?

Nobells Corporation Has Acquired a Property That Included Both Land