question 2 of 2 practice

Exercise 8-3 (Static) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $395,380 for real estate with and tand improvements, and a building Land is appraised at $157040, and improvements are appraised at $58,890, and the building is appraised at $176670 1. Allocate the total cost among the three assets 2. Prepare the journal entry to record the purchase. Journal entry worksheet