Camas Sound Center pays $300,000 for a group purchase of land, building, and eg pment. At...

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Camas Sound Center pays $300,000 for a group purchase of land, building, and eg pment. At the time of acquisition, the land has a current market value of $33,00, the building's current market value is $99,000, and the equipment's current market value is $198,000. Prepare a schedule allocating the purchase price of $300,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Prepare a schedule allocating the purchase price of $300,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Begin by preparing a schedule allocating the purchase price of $300,000. (Do not enter the % sign within the input fields of the Percentage of Total Market column.) Market (Sales) Percentage of Total Cost of Each Value Asset Market Value Asset Land Building Equipment Total 100 Camas Sound Center pays $300,000 for a group purchase of land, building, and eg pment. At the time of acquisition, the land has a current market value of $33,00, the building's current market value is $99,000, and the equipment's current market value is $198,000. Prepare a schedule allocating the purchase price of $300,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Prepare a schedule allocating the purchase price of $300,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Begin by preparing a schedule allocating the purchase price of $300,000. (Do not enter the % sign within the input fields of the Percentage of Total Market column.) Market (Sales) Percentage of Total Cost of Each Value Asset Market Value Asset Land Building Equipment Total 100

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Solution Amount Market Sales Percentage of Total Cost of Each ... View the full answer