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First photo is data, the rest are just the table layouts I need to fill out. (all one problem) Required information [The following information applies

First photo is data, the rest are just the table layouts I need to fill out. (all one problem) image text in transcribed
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Required information [The following information applies to the questions displayed below.) Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $830,000 The estimated market values of the purchased assets are building, $458,150; land, $299,200, and improvements. $65,450; and four vehicles, $112,200. Required: 1-n. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $32,000 salvage value 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3 Allocate the lump-sum purchase price to the separate assets purchased. Allocation of total cost Appraised Value Percent of Total Appraised Value $ % Building Land Land improvements Vehicles Total 458,150 299,200 65,450 112,200 935,000 Total cost of Apportioned Acquisition Cost $ 830,000 $ 830,000 $ 830,000 $ 830,000 $ % % % 0 % X $ Required Required 1B > Journal entry worksheet

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