D

Required intormation

Problem $10-1$A $($Algo$)$ Plant asset costs; depreciation methods LO C$1,$ P$1$

$[$The following intormation applles to the questions alsplayed below$]$

Timberly Construction makes a lump$-$sum purchase of several assets on January $1$ at a total cash price of $$850,000.$ The estimated market values of the purchased assets are bulloing, $$544,500$;$1$ and, $$277,200$; land improvements, $$59,400$; and four vehicles, $$108,900$

Problem $10-1$A $($Algo$)$ Port $1-3$

Required: $$

$1-$a$.$ Allocate the lump$-$sumpurchase price to the separate assets purchased.

$1-$b$.$ Prepare the joumal entry to record the purchase.

$2$ Compute the first$-$year oepreclation expense on the bulding using the stralgnt$-$line method, assuming a i$5-$year ilfe and a s$31,000$ salvage value.

$3.$ Compute the firstyear depreclation expense on the land improvements assuming a tweyear ife and couble$-$decining$-$balance depreclation.

Complete this question by entering vour answers in the tabs below.

Required IA

Required $18$

Recuired $2$

Reatired $3$

$\backslash$table$[[$Allocation of total cost,E$,$mated t Value,Percentio,of Total,$*,,$total colot of acquistition,,,portion Colat,$],[$Culding$,,644\mathrm{.}800,,(,*,,,,,,],[$Land$,,277200,,,,5,,,,,],[$Land amprovervents,,$59400,,,,,,,,,],[$Vericeres$,,103900,,,,,40.,,,,],[$Totat$,5,9890000,,($a$),,,,,,,]]$ Please help me and provide the answers I am so lost on how to get the $\%$