Required information [The following information applies to the questions displayed below) On January 1, Mitzu Company pays a lump-sum amount of $2,700,000 for land, Building 1 Bulding 2 and Land Improvements 1 Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at 5600,000, with a useful life of 20 years and a $90.000 salvage value. Land improvements is valued at $510,000 and is expected to last another 17 years with no salvage value. The land is valued at $1890,000. The company also incurs the following additional costs ed Cost to demolish Bullding 1 Cost of additional land grading Cost to construct Bulldinghaving a useful life of 25 years and $390,000 salvage value Cost of new Land improvements 2. havine 20-year useful life and no sava value $ 345,400 193,400 2,302,600 173.000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column Appraised Allocation of Purchase Price Percent of Total Appraised Value Total cost of acquisition Apportioned Cost Value Land . D. 1:1 3 ! PIEN 1 23 Nox > 1 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column 1 of 3 Allocation of Purchase Price Appealsed Value Percent of Total Appraised Value Totat coral acquisition Antioned Cod hipped Land Building 2 Land Improvements 1 Totals $ 0% $ ebook Land Building 2 Building Land Improvements 1 Print Ferences Land Improvements 2 Purchase Price Demolition Land grading New building Construction cost) New improvements Totals $ 0 $ 0 $ 03 05 Prav 1 2 3 of 3 Next > 2 Required information Part 2 of 3 Record the cost of the plant assets, paid in cash. 10 points Note: Enter debits before credits General Journal Debat Credit ebook Date January 01 Print References Record entry Clear entry View general EE Next 3 Required information Part 3 of 3 Journal entry worksheet 10 points Record the year-end adjusting entry for the depreciation expense of Building 2. Book Peint Note: Enter debits before credits References General Joumal Dabilt Credit Date December 31 Record entry Clear entry Vimweneral (Me Pema NE 3 Required information Part 3 of 3 Journal entry worksheet