Calibri (Body) 12 A Paste Wrap Text Marge & Canter IU a. Av lili IM Recover Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates N10 x fx A8 C G 1 Plant Assets, Natural Resources, & Intangibles 2 Measure and record the cost of Individual assets in a lump sur purchase of assets D 3 The following is given for Lexington Garden Supply's group purchase of land building and equipment. The business signs a note 4 payable for the purchase price 5 1 1 5 Total amount paid $280,000 Current market value at the 7 time of acquisition 8 Land $124,000 9 Building $31,000 10 Equipment $155.000 11 12 Use the blue shaded areas on the ENTERANSWERS tab for inputs. 13 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will 34 be marked wrong 15 16 Requirements 1 Prepare a schedule allocating the purchase price to each of the individual asset purchased based on their relative market value 2 Journalise the lump sum purchase of the three assets 19 Check your spelling carefully and do not abbreviate. 20 b. Record debits first, then credits. Exclude explanations from journal entries. Use cell references from prior calculations, if applicable 22 d Record each asset separately. 23 18 25 Saving & Submitting Solution 26 1 Save file to desktop 27 a Create folder on desktop, and label COMPLETED EXCEL PROJECTS 25 b Save your solution in the folder you just created and solution date to end of file name 22 2 Upload and submit your file to be graded Navigate back to the activity window screen where you downloaded the initial spreadsheet b Click Choose button under step; locate the file you just saved and click Open Clic Upload button under step 3 d. Click Submit button under sted INSTRUCTIONS ENTERANSWERS MacBoo Home Insert Draw Page Layout Formulas Data Review View X Calibri (Body) 12 AA Paste B 1 U v a. Au Recover Unsaved Workbooks. We were able to save changes to one or more files. Do you want to re Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Xv fx 1. Prepare a schedule allocating the purchase price to each of the indivi A1 D E 1. Prepare a schedule allocating the purchase price to each of the individual assets purchased based on their 1 relative market values. 2 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 3 Instruction tab you will be marked wrong.) 5 Purchase Price Allocation Current Market Value Percent of Total 6 Land 7 Building & Equipment 9 Total 0.0% 10 11 2. Journalize the lump-sum purchase of the three assets. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 11 Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable) Account Debit 15 15 17 Credit 20 21 22 26 DISTRUCTION INTERANSWERS Grader - Instructions TTH 12e S7-2 v2 Project Description: Steps to Perform: Step Instructions 1 Prepare a schedule allocating the purchase price to each of the Individual asset purchased based on their relative market values. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Journalize the lump-sum purchase of the three assets. a. Check your spelling carefully and do not abbreviate. b. Record debits first then credits. Exclude explanations from journal entries c. Use cell references from prior calculations, if applicable. d. Record each asset separately. 2 (Always use cell references and formulas where appropriate to receive full credit. If you copy paste from the Instruction tab you will be marked wrong Use cell references from prior calculations. If applicable)
