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Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $243,000; lanc improvements are appraised at $54,000;
Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $243,000; lanc improvements are appraised at $54,000; and the building is appraised at $243,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry to record the purchase. Note: Round your answers to 2 decimal places. Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $243,000; lanc improvements are appraised at $54,000; and the building is appraised at $243,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entry to record the purchase. Note: Round your answers to 2 decimal places
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