Burleson inc purchased a tract of land a small office, Accounting Basics

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Burleson inc purchased a tract of land a small office

Burleson, Inc. purchased a tract of land, a small office building, and some equipment for $1,500,000. The appraised value of the land was $850,000, the building $675,000, and the equipment $475,000. What is the cost of the land?

a. $481,667

b. $850,000

c. $637,500

d. None of the above.

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Accounting Basics: Burleson inc purchased a tract of land a small office

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Accounting Basics: Burleson inc purchased a tract of land a small office

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