QS 8-3 (Algo) Lump-sum purchase of assets LO C1 Diego Company paid $188,000 cash to acquire a group of items consisting of land appraised at $54,000 and a building appraised at $162.000. Allocate total cost to these two assets and prepare an entry to record the purchase Complete this question by entering your answers in the tabs below. Total Cost General Journal Allocate total cost to these two assets. Percent of local cappottoned cast Land Building Totals loutkov General Journal > QS 8-3 (Algo) Lump-sum purchase of assets LO C1 Diego Company paid $188,000 cash to acquire a group of items consisting of land appraised at $54,000 and a building appraised at $162,000 Allocate total cost to these two assets and prepare an entry to record the purchase Complete this question by entering your answers in the tabs below. Total Cost General Journal Prepare an entry to record the purchase. View transaction list Journal entry worksheet Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below) Equipment costing $60,000 with a 4-year useful life and an estimated $10,000 salvage value is acquired and started operating on January 1. The equipment is estimated to produce 5,000 units of product during its life. It produced 750 units in the first year QS 8-7 (Algo) Computing depreciation under different methods LO P1 Compute depreciation for the first year under straight-line, units of production, and double declining-balance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute depreciation for the first year under units-of-production Select formula for the depreciation rate of Units of Production Calculate the first year depreciation expense Depreciation per unit Units in first year Depreciation in first year Required information Use the following information for the Quick Studies below. (Algo) (The following information applies to the questions displayed below.) Equipment costing $60,000 with a 4 year useful life and an estimated $10,000 salvagje value is acquired and started operating on January 1. The equipment is estimated to produce 5,000 units of product during its life. It produced 750 units in the first year QS 8-7 (Algo) Computing depreciation under different methods LO P1 Compute depreciation for the first year under straight-line, units of production, and double-declining balance Complete this question by entering your answers in the tobs below. Required 1 Required 2 Required 3 Compute depreciation for the first year under double-declining balance. Double declining balance depreciation for the first your