Monty Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $459,900. The estimated fair values of the assets are land $87,600, building $321,200, and equipment $116,800. At what amounts should each of the three assets be recorded? (Round Intermediate percentage calculations to 5 decimal places eg. 18.25124 and final answers to O decimal places, eg. 5,275.) Recorded Amount Land %24 Building %24 Equipment %24 %24

Monty Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $459,900. The estimated fair values of the assets are land $87,600, building $321,200, and equipment $116,800. At what amounts should each of the three assets be recorded? (Round Intermediate percentage calculations to 5 decimal places eg. 18.25124 and final answers to O decimal places, eg. 5,275.) Recorded Amount Land %24 Building %24 Equipment %24 %24

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Description: Monty Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $459,900. The estimated fairvalues of the assets are land $87,600, building $321,200, and equipment $116,800. At what amounts should each of the threeas

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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