Exercise 8-3(Algo) lump-sum purchase of plant assets LO C1

Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $368,550 for real estate with land, land improvements, and a building. Land is appraised at $193,500; land Improvements are appraised at $43,000; and the building is appraised at $193,500. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Appartioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value Total Cost of Acquisition Apportioned Cost $ 45% Land Land improvements Building Totals 193,500 43,000 193,500 430,000 10% 45% 100% * 368,550 * 368,550 * 368,550 $ $ 0.00 Regud Required 2 > Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $368,550 for real estate with land, land improvements, and a buliding Land is appraised at $193,500; and Improvements are appraised at $43,000; and the building is appraised at $193,500, 1. Allocate the total cost among the three assets 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Requirep 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet