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Rodriguez Company pays $347,490 for real estate with land, land improvements, and a building. Land is appraised at $164,000; land improvements are appraised at
Rodriguez Company pays $347,490 for real estate with land, land improvements, and a building. Land is appraised at $164,000; land improvements are appraised at $61,500; and a building is appraised at $184,500. 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. Land es Land improvements Building Totals Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost $ 0 0% $ 0.00 Required 2 >
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