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Allocation of Package Purchase Price Tamock Company purchased a plant from one of...

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Accounting

Allocation of Package Purchase Price
Tamock Company purchased a plant from one of its suppliers. The $980,000 purchase price included the land, a building, and factory machinery. Tamock also paid $5,000 in legal fees to negotiate the purchase of An appraisal showed the following values for the items purchased:
\table[[Property,Assessed Value],[Land,$126,000
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