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Question: Red Rock Bakery purchases land, building, and equipment for a single purchase price of $400,000. However, the estimated fair values of the land, building, and equipment are $150,000, $300,000, and $50,000, respectively, for a total estimated fair value of $500,000.
Required: Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.
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kads inc. has spent 400000 on research to develop a new computer game. the firm is planning to spend 200000 on a
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