Crow co purchased some of the machinery of hare inc a, Ask an Expert

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Crow Co. purchased some of the machinery of Hare, Inc., a bankrupt competitor, at a liquidation sale for a total cost of $33,600. Crow's cost of moving and installing the machinery totaled $3,200. The following data are available: Item-Hares net book value/List price of same item/Appraisers Estimate fair value Punch press-$20,160/$36,000/$24,000 Lathe-16,128/18,000/12,000 Welder-4,032/6,000/4,000

Required: a. Calculate the amount that should be recorded by crow Co. as the cost of each piece of equipment.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9984320

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