Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. allocation of package purchase price tamock compan

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

80.2K

Verified Solution

Question

Accounting

image
Allocation of Package Purchase Price Tamock Company purchased a plant from one of its suppliers. The $965.000 purchase price included the land, a building and factory machinery. Tamock also paid 55.000 in legal fees to negotiate the purchase of the plant. An appraisal showed the following values for the items purchased: Property Assessed Value Land $126.000 Building 486.000 Machinery 22000 Total 900.000 Using the assessed value as a guide, allocate the total purchase price of the plant to the land, building and machinery accounts in Tamock Company's records Allocation of Asset Purchase Price Land 133,700 N Building 515,700 X Machinery 305.600 X Total

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The solubility product constant for CuI(s) is 1.1 x 10^-12. Calculate the value of E knot...

Chemistry
Q

You have two ropes with different Young’s modulus, but the same area of cross section and...

Physics
Q

Define. (a) Descriptive statistics (b)Inferential Statistics (c)Nominal Data (d) Ordinal data (e)Standard deviation

Basic Math
Q

Write down the 3 x 3 elementary matrix corresponding to the row operation ? ?...

Algebra
Q

Sketch an angle 8 in standard position such that 8 has the least possible positive...

Algebra
Q

erything at a store is on sale The store offers a 20 discount a The...

Algebra
Q

Simplify the following expressions

Algebra
Q

Which of the following is not true about the token concept? 1The token...

Accounting
Q

Current Attempt in Progress Oriole Enterprises Ltd., a private company following ASPE earned accounting income...

Accounting
Q

10. An owner's drawing X: occurs after a company incorporates Y: is a distribution of...

Accounting
Q

Suppose AIC is considering a $10M Series A investment in PAC. The proposed structure is...

Accounting
Q

Q20) You currently owe $4,263.00 of your credit card that charges an annual interest rate...

Finance