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Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $225,000; land improvements are appraised at
Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $225,000; land improvements are appraised at $90,000; and the building is appraised at $135,000. 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 ed 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value * Total Cost of Acquisition Apportioned Cost Required 1 Required 2 > Journal entry worksheet A Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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