7.69 points Skipped Rodriguez Company pays $379,080 for real estate with land, land improvements, and a...

Transcribed Image Text:

7.69 points Skipped Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $245,000; land improvements are appraised at $98,000; and the building is appraised at $147,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print References Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value Total Cost of Acquisition = Apportioned Cost S 0% $ Required 1 0.00 Required 2 > ed 1 Prepare the journal entry to record the purchase. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet > A Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Clear entry Record entry View general journal Prev 9 of 13 Next 7.69 points Skipped Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $245,000; land improvements are appraised at $98,000; and the building is appraised at $147,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print References Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value Total Cost of Acquisition = Apportioned Cost S 0% $ Required 1 0.00 Required 2 > ed 1 Prepare the journal entry to record the purchase. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet > A Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Clear entry Record entry View general journal Prev 9 of 13 Next