Rodriguez Company pays $352,755 for real estate with land, land Improvements, and a building. Land is appraised at $200,000; land Improvements are appraised at $75,000; and the building is appraised at $225,000. 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. Note: Round your "Apportioned Cost" answers to 2 decimal places. Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition = Apportioned Cost

Rodriguez Company pays $352,755 for real estate with land, land Improvements, and a building. Land is appraised at $200,000; land Improvements are appraised at $75,000; and the building is appraised at $225,000. 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. Note: Round your "Apportioned Cost" answers to 2 decimal places. Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition = Apportioned Cost

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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