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How these assets should be reflected on the books and why

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Reference no: EM133137761

Question - Cringan George Advertising is relocating its operations. In doing so it purchases a new plant, land, and printing equipment for $1,500,000. The fair value of these assets had they been purchased separately is as follows: Equipment $800,000, Plant $500,000, and Land $750,000. How these assets should be reflected on the books and why? Explain what values should be assigned to these assets?

Reference no: EM133137761

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