Prepare a table to allocate the lump-sum purchase

Prepare the journal entry to record the purchase

imberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2016, at a total cash price of $820,000 for a building, land, land and four vehicles. The estimated market values of the assets are $544,500; land, $297,000; land i ments, $49,500; and four vehicles, $99,000. The s fiscal year ends on December 31 1.1 Prepare a table to allocate the lurrp-sum purchase price to the separate assets purchased ation Appraised Value st of Apportioned Percent of Total Co cquisition ised Valu Cost Building Land ehicles Tolal