Tonto company purchased property for $280,000. the property included a building, equipment and land. the building was appraised at $173,600, the land at $126,000, and the equipment at $50,400. what is the amount of cost to be allocated to the building in the accounting records?

$138,880

Explanation:

Property cost = $280,000

Appraised cost of the composite elements of the property

Building = $173,600

Land = $126,000

Equipment = $50,400

Total appraised cost of the property = 173600 + 126000 + 50400

                                                             = $350,000

Allocated cost of the elements

Allocated cost of building =

                                           = $138,880

Allocated cost of land =

                                    = $100,800

Allocated cost of equipment =

                                                = $40,320

Cost allocated to building = $138,880

answer; ///deficit;

answer; the cpi;