The Morris Corporation acquired land, buildings, and equipment from a bankrupt company at a lump-sum price of $180,000 . At the time of acquisition, Morris paid $12,000 to have the assets appraised. The appraisal disclosed the following values: Land .................................................. $120,000 Buildings ............................................. 80,000 Equipment
............................................. 40,000 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
C
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