Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required Allocate the lump-sum purchase price to the separate assets purchased. Allocation of total cost Appraised Value Percent of Total Appraised Value X Total cost of Acquisition Apportioned Cost X Building Land Land improvements Vehicles Total % % 0% X x $ $ Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3 Prepare the journal entry to record the purchase. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jan 01 Building Land Land improvements Vehicles Cash Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3 Compute the first year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value. (Round your answer to the nearest whole dollar) Depreciation expense on building Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3 Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation Depreciation oxpense on land improvements Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3 Compute the first year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value. (Round your answer to the nearest whole dollar) Depreciation expense on building Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3 Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation Depreciation oxpense on land improvements