Determine the appropriate amounts that abiuso should record


On May 1, 2014 Abiuso Corporation purchased for 790,000 a tract of land on which a warehouse and office building were located. The following data were collected concerning the property:

Current Assessed Valuation Vendors Original Cost

Land - 225,000 190,000

warehouse - 315,000 350,000

office building - 360,000 145,000

Total - 900,000 685,000

Determine the appropriate amounts that Abiuso should record for the land, warehouse and office building.

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Accounting Basics: Determine the appropriate amounts that abiuso should record
Reference No:- TGS0684401

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