Question
NEED HELP ASAP Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $265,000; land improvements are
NEED HELP ASAP
Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $265,000; land improvements are appraised at $79,500; and a building is appraised at $185,500.
Required:
1.Allocate the total cost among the three assets.
2.Prepare the journal entry to record the purchase.
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Accounting Chapters 1-13
Authors: Carl Warren
27th Edition
1337272108, 978-1337272100
