X Ltd. acquired land, building and equipment for $ 130000. An appraisal valued the land...
60.1K
Verified Solution
Link Copied!
Question
Accounting
X Ltd. acquired land, building and equipment for $ 130000. An appraisal valued the land at $ 78000, the building at $ 87000 and the equipment at 66000. After the purchase and the appraisal, the equipment was upgraded at a cost of $ 15000. The upgrade allowed the machine to produce more output and to last longer. How much will the equipment be recorded at? Round your answer to the nearest dollar
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!