Transcribed Image Text: Red Rock Bakery purchases land, building, and equipment for a single purchase price of $560,000. However, the estimated fair values of the land, building, and equipment are

Transcribed Image Text: Red Rock Bakery purchases land, building, and equipment for a single purchase price of $560,000. However, the estimated fair values
of the land, building, and equipment are $231,000, $363,000, and $66,000, respectively, for a total estimated fair value of $660,000.
Required:
Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.
Allocation
Amount of Basket
Purchase
Recorded
Amount
Estimated Fair Value
Percentage
Land
%
Building
Equipment
Total
$
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