1. Good Deal Banners pays $260,000 cash for a group purchase of land, building, and equipment. At the time of acquisition, the land has a market value of $40,500, the building $135,000, and the equipment $94,500 Journalize the lump sum purchase First, refer to the information provided and calculate the ratio of each asset's market value to the total for all assets combined Then, complete the table and calculate the assigned cost for each asset Assigned Percentage Purchase Market Value of Total Value Total Cost of Each Asset Asset Price Land % % Building Equipment % Total % 4. BB Petroleum holds huge reserves of oil Assume that at the end of 2017, BB Petroleum's cost of oil reserves totaled $408,000,000, representing 240,000,000 barrels of oil. Suppose BB Petroleum removed and sold 24,000,000 barrels of oil during 2018 Journalize depletion experise for 2018 (Assume no residual value Record debits first, then credits Select the explanation on the last line of the journal entry table) CD Date Accounts and Explanation Debit Credit