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Lionworks Corporation Made a Basket Purchase of Three Items

Question 102

Multiple Choice

Lionworks Corporation made a basket purchase of three items. Item X was appraised at $30,000; item Y was appraised at $55,000; and item Z was appraised at $65,000. The purchase price was $125,000. The amount at which item X should be recorded (rounded to the nearest dollar) is: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)


A) $36,000.
B) $25,000.
C) $5,000
D) $30,000.

Correct Answer:

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