Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $202,500; land improvements are appraised at $45,000; and the building is appraised at $202,500. 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 Required 2 Allocate the total cost among the three assets. Note: Round your "Apportioned Cost answers to 2 decimal places Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value Total Cost of -Apportioned Acquisition Cost S 0% 0.00 Required 1 Required 2 >
Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $202,500; land improvements are appraised at $45,000; and the building is appraised at $202,500. 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 Required 2 Allocate the total cost among the three assets. Note: Round your "Apportioned Cost answers to 2 decimal places Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value Total Cost of -Apportioned Acquisition Cost S 0% 0.00 Required 1 Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1
Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $202,500; land
improvements are appraised at $45,000; and the building is appraised at $202,500.
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
Required 2
Allocate the total cost among the three assets.
Note: Round your "Apportioned Cost answers to 2 decimal places
Land
Land improvements
Building
Totals
Percent of Total
Appraised
Value
Appraised
Value
Total Cost of -Apportioned
Acquisition
Cost
S
0%
0.00
Required
Required 2 >
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