A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:
A) $0.
BY $30,435.
C) $35,000.
D) $46,087. E) $100,000.
A company paid $150,000, plus a 7% commission and $5,000 in closing costs for at > property. The property included land appraised at $87.500. land improvements appraised at $35,000. and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?
A) Land $75,000; Land Improvements, $30,000; Building, $45,000. B) Land $75,000; Land Improvements, $30,800; Building, $46,200.
C) Land $82,750; Land Improvements, $33,100; Building, $49,650. D) Land $80,250; Land Improvements, $32,100; Building, $48,150.
E) Land $77 500: Land Improvements; $31,000; Building: $46 500.