S7-2 (similar to) Assigned Media E Question Help Advanced Automotive pays $290,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $160,000, the building's current market value is $32,000, and the equipment's current market value is $120,000. Prepare a schedule allocating the purchase price of $290,000 to each of the individual assets purchased based on their relative market values, then joumalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price Test Prepare a schedule allocating the purchase price of $290,000 to each of the individual assets purchased based on their relative market values, then joumalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price Begin by preparing a schedule locating the purchase price of $290,000 Market Percentage of Total (Sales) Value Cost of Ench Asset Market Value Land Building Equipment Tot S7-10 (similar to) Assigned Medie Question Help Mobley purchased a used van for use in its business on January 1, 2017. It paid $15,000 for the van. Mobley expects the van to have a useful life of four years, with an estimated residual value of $1,200. Mobley expects to drive the van 24,000 miles during 2017, 30,000 miles during 2018, 10,000 miles in 2019 and 28,000 miles in 2020, for total expected miles of 92,000 Read the requirements (Complete all answer boxes. Enter a "O for any zero values.) est Straight-line method Annual Depreciation Expense Accumulated Depreciation Year Book Value Start 2017 2018 2019 2020