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Ooredoo Company makes a lump-sum purchase of four assets on January 1, 2020 for a total cash price of $830,000. The estimated market values of
Ooredoo Company makes a lump-sum purchase of four assets on January 1, 2020 for a total cash price of $830,000. The estimated market values of the assets are Factory, $466,650, Equipment, $247,050; Machine, $45,750; and Land, $155,550. Required: 1. Prepare a table to allocate the lump-sum purchase price to the separate assets purchased 2. Prepare the joumal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a table to allocate the lump-sum purchase price to the separate assets purchased. Allocation of total cost Appraised Value Percent of Total Appraised Value Total cost of Acquisition Apportioned Cost % Factory Equipment Machine Land Tota %
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