Saved Help Save & Exit Sub Check my work Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land is appraised at $164,000; land improvements are appraised at $41,000; and a building is appraised at $205,000. Required: 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.) Appraised Value Appraised Percent of Total Appraised Value x Total Cost of Apportioned Acquisition Cost | $ Land Land improvements Building Totals 164,000| 41,000 205,000 410,000 40% 10% 50% 100% $ 0.00 Required Required 2 > Prey 1 of 1 3 Next > Check my w Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land is appraised at $164,000; land improvements are appraised at $41,000; and a building is appraised at $205,000. Required: 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 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list View journal entry worksheet General Journal Debit Credit No Transaction A no Land Land improvements Building Cash