Fair Market, Inc. purchased land, a warehouse, and a delivery truck for $ The appraised values for the items are $ $ and $ respectively.
Fair Market should record this purchase
ANSWER
as assets on the balance sheet: $ for the land, $ for the building and $ for the delivery truck
as an expense of $ on the income statement
as assets on the balance sheet: $ for the land, $ for the building, and $ for the delivery truck
as assets on the balance sheet: $ for the basket purchase minus $ accumulated depreciation
