Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land is appraised at $207,000; landimprovements are appraised at $69,000; and the building is appraised at $184,000.1. 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 2Allocate the total cost among the three assets.Note: Round your "Apportioned Cost" answers to 2 decimal places.LandLand improvementsBuildingAppraisedValuePercent of TotalAppraisedValue× Total Cost ofAcquisitionApportionedCost Rodriguez Company pays $352, 755 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and the building is appraised at $184,000. Allocate the total costamong the three assets. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2decimal places. \table[[ \table[[Appraised], [Value]],\table[[Percent of Total], [Appraised], [Value]],\table[[x Total Cost of], [Acquisition]],\table[[Apportioned], [Cost]]]. [Land,...]. [Land improvements...]. [Building....]]

Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and the building is appraised at $184,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and the building is appraised at $184,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

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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