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i need help with these charts Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $400,140 for real estate with land,
i need help with these charts
Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $245,000; land Improvements are appraised at $73,500; and the building is appraised at $171,500 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 - Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost answers to 2 decimal places.) Percent of Appraised Total Total Value = Apportioned Cost of Appraised Value Acquisition Cost Land 3 245,000 40% 400,140 Land improvements 73,500 15% *400,140 Building 171,500 45% 3 x 400,140 Totals $ 490,000 100% 0.00 Required: Required 2 > complete this question by entering your answers in the taps verow. Return toc Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) No Transaction General Journal Debit 1 Credit Land Land improvements Building Cash OOOO Step by Step Solution
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