1)On April 12, 2020 Vertical company paid cash of$368,250 for real estate plus $19,600 cash inclosing costs. The real estate appraised value at$166,320, Land improvement appraised at$55,440, building appraised at $174,240. pleaseshow the lump sum allocation and record thejournal entry for it.2) Mar1, 2018 ABC business spent $690,000purchasing a machine with useful life 10 years,with residue value $160,000. Please use straight-line and double-declining balance method tocalculate depreciation with entries.

Name: 1)On April 12, 2020 Vertical company paid cash of$368,250 for real es
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Description: 1)On April 12, 2020 Vertical company paid cash of$368,250 for real estate plus $19,600 cash inclosing costs. The real estate appraised value at$166,320, Land improvement appraised at$55,440, building appraised at $174,240. pleaseshow the lump sum al

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)On April 12, 2020 Vertical company paid cash $368,250 for real estate plus $19,600 cash in closing costs. The real estate appraised value. 5166,320, Land improvement appraised at 55. 440 building appraised at $174 240. plea

)On April 12, 2020 Vertical company paid cash $368,250 for real estate plus $19,600 cash in closing costs. The real estate appraised value. 5166,320, Land improvement appraised at 55. 440 building appraised at $174 240. plea

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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