On April 1, Proton Corporation purchased for P855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land P300,000 P280,000 Warehouse 200,000 180,000 Office building 400,000 340,000 P900,000 P800,000 What are the appropriate amounts that Proton should record for the land, warehouse, and office building, respectively? O Land, P299,250; warehouse, P192,375; office building, P363,375. O Land, P300,000; warehouse, P200,000; office building, P400,000. O Land, P280,000; warehouse, P180,000; office building, P340,000. O Land, P285,000; warehouse, P190,000; office building, P380,000.
On April 1, Proton Corporation purchased for P855,000 a tract of land on which was located a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land P300,000 P280,000 Warehouse 200,000 180,000 Office building 400,000 340,000 P900,000 P800,000 What are the appropriate amounts that Proton should record for the land, warehouse, and office building, respectively? O Land, P299,250; warehouse, P192,375; office building, P363,375. O Land, P300,000; warehouse, P200,000; office building, P400,000. O Land, P280,000; warehouse, P180,000; office building, P340,000. O Land, P285,000; warehouse, P190,000; office building, P380,000.
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 3PA: During the current year, Alanna Co. had the following transactions pertaining to its new office...
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