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Allred shipping Co. acquired land, building anmd equipment at a lump-sum price of $920,000. An...

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Accounting

Allred shipping Co. acquired land, building anmd equipment at a lump-sum price of $920,000. An appraisal of the assests at the time of acquisition disclosed the following values.

Land.......................................................... $250,000

Building......................................................$600,000

Equipment..................................................$200,000

What cost should be assigned to each asset?

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