Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is...
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Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and the building is appraised at $184,000. 1. Allocate the total cost among the three assets. 2. 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. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Total Appraised Value x Total Cost of Acquisition =Apportioned Cost %3D Appraised Value Land 207,000 x 384,345 69,000 15% x 384,345 Land improvements Building 184,000 x 384,345 Totals 460,000 15% 24 0.00 Required 2 > %24 %24 Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Land Land improvements Building Cash 384,345.00 Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and the building is appraised at $184,000. 1. Allocate the total cost among the three assets. 2. 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. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Total Appraised Value x Total Cost of Acquisition =Apportioned Cost %3D Appraised Value Land 207,000 x 384,345 69,000 15% x 384,345 Land improvements Building 184,000 x 384,345 Totals 460,000 15% 24 0.00 Required 2 > %24 %24 Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Land Land improvements Building Cash 384,345.00
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