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Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $250,000; land improvements are appraised at
Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $250,000; land improvements are appraised at $50,000; and the building is appraised at $200,000. 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 Percent of Total Appraised Value * Appraised Value Total Cost of Acquisition Apportioned Cost 50,000 I $ 0 0% $ 0.00
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