Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised
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Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at$157,040; land improvements are appraised at $58,890; and the building is appraised at $176,670. Allocate the total cost among the three assets and prepare the journal entry to record the purchase.
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Allocation of total cost Appraised Value Percent of Total Applying to Co...View the full answer
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