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need help Foldy Distribution Service pays $320,000 for a group purchase of land, building, and equiprent. At the tene of acquistion, the land has a
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Foldy Distribution Service pays $320,000 for a group purchase of land, building, and equiprent. At the tene of acquistion, the land has a currert market value of stos. 000, the bridings aimery market value is $210.000, and the 6quipmenfs current marknt walue is 335.000. Prepare a schedule allocating the purchase price of 5320.000 to alch of the individuar asants purchased tased on their relative market values, then joumalize the lump.tam purchase of the three assets. The bushest signs a note payatile for the purchase price. Prepare a schedule alocating the purchase price of 5320,000 to each of the individual assete purchased based con their relative maiket values, then journaline the lump- sum purchase of the thros assets. The business signs a note payable for the purchase price. Begin by preparing a schedule allocating the purchase price of 5320,000 . (Do not enter the % sign within the input feids of the Parcentage of Total Market colurn.) Step by Step Solution
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