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Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $245,000; land improvements are appraised at $49,000;
Rodriguez Company pays $400,140 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. (Round your "Apportioned Cost" answers to 2 decimal places.) Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value Total Cost of Acquisition -Apportioned Cost Required 2 > 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 < A Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit
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