Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land improvements are appraised at $81,000; and the building is appraised at $216,000. 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.) Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land Land improvements Building Totals Required 2 > <-Required 1
Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land improvements are appraised at $81,000; and the building is appraised at $216,000. 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.) Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land Land improvements Building Totals Required 2 > <-Required 1
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 3PB: During the current year, Alanna Co. had the following transactions pertaining to its new office...
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![Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land
improvements are appraised at $81,000; and the building is appraised at $216,000.
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.)
Appraised
Value
Percent of Total
Appraised
Value
x Total Cost of = Apportioned
Acquisition
Cost
Land
Land improvements
Building
Totals
Required 2 >
Required 1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25310e27-d02e-4900-871a-4bca6692b57f%2Fdaa814e1-a02e-40d1-b12d-8937a28121d8%2Fj8mly5p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land
improvements are appraised at $81,000; and the building is appraised at $216,000.
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.)
Appraised
Value
Percent of Total
Appraised
Value
x Total Cost of = Apportioned
Acquisition
Cost
Land
Land improvements
Building
Totals
Required 2 >
Required 1
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