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Business, 03.04.2020 05:22 destineenikole17

Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890; and a building is appraised at $176,670.

Required:
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. Appraised Value Percent of Total x Total Cost of Appraised Value Acquisition = Apportioned Cost Land Land improvements Building Totals Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

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Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land i...
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