Cringan George Advertising is relocating its operations. In doing so it purchases a new plant, land, and printing equipment for $1,500,000. The fair value of these assets had they been purchased separately is as follows: Equipment $800,000, Plant $500,000, and Land $750,000. Explain how these assets should be reflected on the books and why? What values should be assigned to these assets?

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The Answer of Cringan George Advertising is relocating its operations. In doing so it purchases a new plant, land, and printing equipment for $1,500,000. The fair value of these assets had they been purchased separately is as follows: Equipment $800,000, Plant $500,000, and Land $750,000. Explain how these assets should be reflected on the books and why? What values should be assigned to these assets?

Cringan George Advertising Is Relocating Its Operations