Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of
Question:
Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvements appraised at $58,890; and a building appraised at
$176,670. Allocate the total cost among the three purchased assets and prepare the journal entry to record the purchase.
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Related Book For 
Financial Accounting Information For Decisions
ISBN: 9780073043753
4th Edition
Authors: John J. Wild
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