Question 1 - Basket Purchase The Puma Company paid $175,000.00 cash to purchase land and buildings. The land was recently appraised at $75,000.00 and the buildings at $125,000.00. Determine the cost allocation for each and complete the journal entries. Determination of Cost: Question 2 - Land The Springbok Company purchased land for $175,000.00. A down payment of $35,000.00 was made. An old warehouse was removed from the property at a cost of $12,500.00. Springbok Company received a cheque for $2,500.00 for materials salvaged from the warehouse demolition and removal. Closing costs invoiced by lawyers totalled $7,500.00. Record the purchase of the land in the books [journal] of The Springbok Company. Question 3 - Buildings The Science Labs at your school are being renovated. List some of the costs that would be involved in this renovation project. Question 4 - Automobiles The All Blacks Company recently purchased a truck to be used for deliveries. The following are the associated costs. Cash price of the truck - $34,500.00 Painting and lettering of the company name & logo - $1,500.00 Licencing - $90.00 Insurance for the year - $4,200.00 Record the above transactions in the books [journal] of The All Blacks Company.