Hernandez Company paid $900,000 cash to buy a group of plant assets. An independent appraiser assigned the following values to the assets acquired:< له Land Building Equipment Total ↓ $653,000 $319,000 $138,000 $1,110,000 Required:< Prepare Hernandez' journal entry to record the acquisition of these assets.<

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Hernandez Company paid $900,000 cash to buy a group of plant assets. An independent appraiser
assigned the following values to the assets acquired:<
H
Land
Building
Equipment
Total
↓
$653,000
$319,000
$138,000
$1,110,000
Required:
Prepare Hernandez' journal entry to record the acquisition of these assets.<
Transcribed Image Text:Hernandez Company paid $900,000 cash to buy a group of plant assets. An independent appraiser assigned the following values to the assets acquired:< H Land Building Equipment Total ↓ $653,000 $319,000 $138,000 $1,110,000 Required: Prepare Hernandez' journal entry to record the acquisition of these assets.<
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