hickory company made a lump-sum purchase of three prieces of machinery for $130,000 from an unaffiliated company. At the time of acquision Hickory paid $5,000 to determin the appraised value of the machinery. The appraisal disclosed the following values machine a $70,000 machine b $42,000 machine c $28,000 what cost should be assigned to machine a, b, and c respectively?
hickory company made a lump-sum purchase of three prieces of machinery for $130,000 from an unaffiliated company. At the time of acquision Hickory paid $5,000 to determin the appraised value of the machinery. The appraisal disclosed the following values machine a $70,000 machine b $42,000 machine c $28,000 what cost should be assigned to machine a, b, and c respectively?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 11MCQ
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hickory company made a lump-sum purchase of three prieces of machinery for $130,000 from an unaffiliated company. At the time of acquision Hickory paid $5,000 to determin the appraised value of the machinery. The appraisal disclosed the following values
machine a $70,000
machine b $42,000
machine c $28,000
what cost should be assigned to machine a, b, and c respectively?
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