Frankfort Company paid $188,000 cash to acquire a group of items consisting of land appraised at...
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Frankfort Company paid $188,000 cash to acquire a group of items consisting of land appraised at $54,000 and a building appraised at $162.000. Allocate total cost to these two assets and prepare an entry to record the purchase. Complete this question by entering your answers in the tabs below. General Journal Total Cost Allocate total cost to these two assets. Percent of Total Apportioned Cost Land Building Totals Total Cost General Journal> General Journal Total Cost Prepare an entry to record the purchase. View transaction list Journal entry worksheet A Record costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Frankfort Company paid $188,000 cash to acquire a group of items consisting of land appraised at $54,000 and a building appraised at $162.000. Allocate total cost to these two assets and prepare an entry to record the purchase. Complete this question by entering your answers in the tabs below. General Journal Total Cost Allocate total cost to these two assets. Percent of Total Apportioned Cost Land Building Totals Total Cost General Journal> General Journal Total Cost Prepare an entry to record the purchase. View transaction list Journal entry worksheet A Record costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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Calculate the total costs allocated to the two assets as shown below Perce... View the full answer
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