Question: Hello there, i am stuck on this 2 part question and i need help. i would greatly appreciate it. Thank you. {Required Information} Picture 1


Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $405,405 for real estate with land, land improvements, and a bulding. Land is appraised at $220,000 land improvements are appraised at $66,000, and the bulding is appraised at $154,000 1. Allocate the total cost among the three ossets 2. Prepare the journol entry to record the purchase. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
