Answer:
The cost should be recorded for the land is $15,150
Explanation:
In order to calculate the cost should be recorded for the land we would have to calculate the following formula:
cost should be recorded for the land=(Appraised value of land/Appraised value of land and building)*combine cost of land and building
Appraised value of land=$23,000
Appraised value of land and building=$23,000+$103,000=$126,000
combine cost of land and building=$83,000
Therefore, cost should be recorded for the land=($23,000/$126,000)*$83,000
cost should be recorded for the land=$15,150
The cost should be recorded for the land is $15,150
