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Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $255,000; land improvements are appraised at $76,500;
Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $255,000; land improvements are appraised at $76,500; and a building is appraised at $178,500. 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 .5 Land Land improvements Building Totals S 0 0% $ 0.00 Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $255,000, land improvements are appraised at $76,500; and a building is appraised at $178,500. 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 ces A Record the costs of lump-sum purchase. Note: Enter debits before credits. Debit General Journal Transaction Credit
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