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Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $215,000; land improvements are appraised at $64,500;
Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $215,000; land improvements are appraised at $64,500; and a building is appraised at $150,500. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land Land improvements Building Totals 0 0% 0.00 Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $215,000; land improvements are appraised at $64,500; and a building is appraised at $150,500. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.). View transaction list Journal entry worksheet Record the costs of lump-sum purchase
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