3. Lump-Sum Purchase 9 marks Deja's Decorating Ltd. paid a lump sum to purchase land with a small building for its interior decorating business. Details of the purchase, as well as other transactions are as follows: Lump-sum Cash paid for Land and Building Cash paid for additional landscaping Cash paid for brick walkway around store Cash paid for putty/paint to fill nail holes in walls $146,000 700 900 30 At the time of the purchase the fair market value (FMV) of the assets included in the lump- sum payment as determined by an appraiser were as follows: REQUIRED: a) FMV of Land FMV of Building Total Appraised Value $ 114,464 49,056 $163,520 Using the information provided, determine the non-current assets that Deja's Decorating Ltd. must record as well as the cost that will be allocated to each. b) Prepare the journal entry to record the purchase of the assets determined in part a).