ACC 201/202 MYACCLAB E-TEXT ONLY >I<
16th Edition
ISBN: 9781323118047
Author: Pearson
Publisher: PEARSON C
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Chapter 9, Problem 9.18E
Making a lump-sum purchase of assets
Dearwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows:
| Lot | Appraised Value |
| 1 | $ 45,000 |
| 2 | 292,500 |
| 3 | 112,500 |
Dearwood paid $435,000 in cash. Record the purchase in the journal, identifying each lot’s cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout.
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Chapter 9 Solutions
ACC 201/202 MYACCLAB E-TEXT ONLY >I<
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