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Business, 17.04.2020 01:22 ctyrector

Bramble Co. purchased for $2,196,000 property that included both land and a building to be used in operations. The seller’s book value was $327,000 for the land and $959,000 for the building. By appraisal, the fair value was estimated to be $701,036 for the land and $1,802,664 for the building. At what amount should Bramble report the land and the building at the end of the year?

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Bramble Co. purchased for $2,196,000 property that included both land and a building to be used in o...
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