The Oscar Corporation Acquired Land, Buildings, and Equipment from a Bankrupt

Multiple Choice

The Oscar Corporation acquired land, buildings, and equipment from a bankrupt company at a lump-sum price of $180,000. At the time of acquisition, Oscar paid $12,000 to have the assets appraised. The appraisal disclosed the following values:

What cost should be assigned to the land, buildings, and equipment, respectively?

A) $64,000, $64,000, and $64,000
B) $90,000, $60,000, and $30,000
C) $96,000, $64,000, and $32,000
D) $120,000, $80,000, and $40,000