Exercise $8-3($Algo$)$ Lump$-$sum purchase of plant assets LO C$1$

Rodriguez Company pays $$394,875$ for real estate with land, land improvements, and a building. Land is appraised at $$234,000$; land improvements are appraised at $$104,000$; and the building is appraised at $$182,000.$

Allocate the total cost among the three assets.

Prepare the journal entry to record the purchase.

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

Required $1$

Required $2$

Allocate the total cost among the three assets.

Note: Round your "Apportioned Cost" answers to $2$ decimal places.

$\backslash$table$[[,$Appraised Value,Percent of Total Appraised Value,Total Cost of Acquisition,$\backslash$table$[[=$ Apportioned$],[$Cost$]]],[$Land$,$$ $234,000,,,],[$Land improvements,$104,000,,,],[$Building$,182,000,35\%,,]]$