Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $245,000; land improvements are appraised at $49,000; and the building is appraised at $196,000.

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.

Note: Round your "Apportioned Cost" answers to 2 decimal places.

Percent of Total

Appraised

Value

Total Cost of

Acquisition

= Apportioned

Cost

0%

Land

1 Land improvements

Building

3 Totals

Appraised

Value

S

245.000

49.000

19.600

313.600

10.00

0%