Business, 07.05.2020 10:02 joannachavez12345

Red Rock Bakery purchases land, building, and equipment for a single purchase price of $260,000. However, the estimated fair values of the land, building, and equipment are $126,000, $198,000, and $36,000, respectively, for a total estimated fair value of $360,000. Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.

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Red Rock Bakery purchases land, building, and equipment for a single purchase price of $260,000. How...

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