Ch 08 Ex 8-3 Saved Help 1 Exercise 8-3 Lump-sum purchase of plant assets LO C1 10 points Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building. Land is appraised at $270,000; land improvements are appraised at $81,000, and a building is appraised at $189.000, Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Print Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) References Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition = Apportioned Cost S 0% 270,000 81,000 15% Land Land improvements Building Totals x 389,610 x 389.610 x 389.6101 189,000 540,000 S 15% S 0.00 1 Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building. Land is appraised at $270,000; land Improvements are appraised at $81,000; and a building is appraised at $189,000. 10 points Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.). Print View transaction list References Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit 1