Harding Corporation Acquired Real Estate That Contained Land, Building and Equipment

Multiple Choice

Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,470,000. Harding paid $735,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $777,000; Building, $2,310,000 and Equipment, $1,533,000.What value will be reported for the building on the balance sheet?

A) $367,500
B) $1,235,000
C) $160,000
D) $2,310,000