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Not sure how to find these and I'm not able to reach my professor as we are online right now. Required information [The following information

Not sure how to find these and I'm not able to reach my professor as we are online right now.

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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 $850,000. The estimated market values of the purchased assets are building, $468,000; land, $312,000; land improvements, $39,000; and four vehicles, $156,000. Required: 1-a. 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 $29,000 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 Appraised Percent of Total Total cost of Apportioned cost Value Appraised Value X Acquisition Cost Building $ 468,000 X $ 850,000 Land 312,000 X $ 850,000 Land improvements 39,000 X $ 850,000 Vehicles 156,000 o X $ 850,000 Total $ 975,000 0% $

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