Alpha paid $45,000 cash for the lump sum purchase. What value should be allocated to the following? (Enter only whole dollar values.) 1. Land 2. Building 3. Equipment

Value allocation is mentioned below:

Explanation:

At first , we have to calculate the ratio of appraised value to allocate the lump sum purchase amount.

Land - $10,000

Building - $20,000

Equipment - $30,000

Total : $60,000

Acquisition price for : $45,000

Percentage of appraised value : $ 45000/60000 * 100 = 75%.

After paying the $ lump sum cash 45000, below mentioned are the values allocated to following.

Land - $ 7500

Building - $15,000

Equipment - $22,500

Total Paid :  $45000

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