Rodriguez Company pays $365,000 for real estate plus $19,345 in closing costs. The real estate consists of land appraised at $164,000; land improvements appraised at $61,500; and a building appraised at $184,500. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase.

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[The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $47,500. The machine's useful life is estimated at 10 years, or 405,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 34,500 units of product.

Determine the machines second-year depreciation and year end book value under the straight-line method.

Required information

[The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $47,500. The machine's useful life is estimated at 10 years, or 405,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 34,500 units of product.

Determine the machines second-year depreciation using the units-of-production method.

Complete this question by entering your answers in the tabs below. Required 2 Required 1 Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total x Total Cost of = Apportioned Cost Appraised Value Acquisition Land Land improvements Building 0 0.00 Totals 0% Required 1 Straight-Line Depreciation Annual Depreciation Expense Choose Numerator:/ Choose Denominator: Depreciation expense / Year 2 Depreciation Year end book value (Year 2) Units-of-production Depreciation Choose Numerator: / Choose Denominator: Annual Depreciation Expense / Depreciation expense per unit - Year Annual Production (units) Depreciation Expense 2