Question 12 Coronado Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $441,000.

Question 12

Coronado Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $441,000. The estimated fair values of the assets are land $84,000, building $308,000, and equipment $112,000. At what amounts should each of the three assets be recorded? (Round intermediate percentage calculations to 5 decimal places e.g. 18.25124 and final answers to 0 decimal places, e.g. 5,275.)

Recorded Amount

Land

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