t Chapter 10 Saved Help Required information (The following information applies to the questions displayed below.) On January 1, Mitzu Co. pays a lump sum amount of $2,600,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $737,500, with a useful life ars and a $75,000 salvage value. Land Improvements 1 is valued at $413,000 and is expected to last another 14 years with no salvage value. The land is valued at $1,799,500. The company also incurs the following additional costs. $ 347,400 191,400 Cost to demolish Building 1 Cost of additional land grading Cost to construct Building 3, having a useful life of 25 years and a $400,000 salvage value Cost of new Land Improvements 2 having a 20-year useful life and no salvage value 2,222,800 178,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column Allocation of purchase price Appraised Value Percent of Total Appraised Value Total cost of acquisition - Apportioned Cost Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column. Allocation of purchase price Appraised Value Percent of Total Appraised Value Total cost of acquisition - Apportioned Cost Land Building 2 Land Improvements 1 Totals Land Building 2 Building 3 Land Improvements 1 Land Improvements 2 Purchase Price Demolition Land grading New building Construction cost) New Improvements Totals nent Chapter 100 Saved Required information Record the cost of the plant assets, paid in cash. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01 Record entry ent View general journal Retete Required information Journal entry worksheet urette Required information Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Building Note: Enter debits before credits. Date General Journal Dec 31 Debit Credit F Record entry Clear entry View general journal arte Required information Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Land Improvements 1. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal uit Required information Journal entry worksheet