$($Click the icon to view the fair values of the individual assets acquired.$)$

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Read the requirements.

Requirement a$.$ Determine the proper allocation of the purchase cost to each of the assets acquired. $($Round interim percentages to the nearest percent, $x\%$ and your final answers to the nearest whole dollar.$)$

Allocation to

Specific

Asset Type

Lailding

Machinery and Equipment

Inventory

Manufacturing Supplies

Balance Sheet Accounts

a$.$ Determine the proper allocation of the purchase cost to each of the assets

acquired.

b$.$ Prepare the journal entries necessary to record the acquistion of the assets.

Assume that all expenditures were made in cash.

c$.$ Prepare the journal entries necessary to record the depreciation of the

building and the machinery and equipment, the sale of inventory, and the use

of the manufacturing supplies. Assume that assets were acquired on January

$1.$