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Rodriguez Company pays $405,405 for real estate with land, land improvements, and a building. Land is appraised at $208,000, land Improvements are appraised at $78.000;
Rodriguez Company pays $405,405 for real estate with land, land improvements, and a building. Land is appraised at $208,000, land Improvements are appraised at $78.000; and a building is appraised at $234,000. 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 Percent of Total Value Appraised x Total Cost of - Apportioned Value Acquisition Cost Land Land improvements Building 0% $ 0 0.00 RE Required 2 >
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