Question

Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the followiRequirea: 1. Determine the initial valuation of each asset Samtech acquired in these transactions. 2. Determine the initial vRequirea: 1. Determine the initial valuation of each asset Samtech acquired in these transactions. 2. Determine the initial v

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Answer #1
1) initial valuation
land 2982052
building 1047748
land improvements (85000+43000) 128000
Total cost of land & building
purchase cost -land & building 4000000
title insurance 19000
legal fees 6500
state tranfer fees 4300
Total cost 4029800
appraised value %of total appraised value allocation
Land 3700000 74% 2982052
Building 1300000 26% 1047748
5000000 100% 4029800
2) land
initial cost 4029800
cost of demolishing 280000
salvage material sold -7500
clearing & garding 82000
total 4384300
Assets initial valuation
Land 4384300
Building 0
land improvement 128000
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