Description
Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $189,000; land improvements are appraised at $63,000; and the building is appraised at $168,000.
1. Allocate the total cost among the three assets.
2. Prepare the journal entry to record the purchase.
Explanation & Answer
Hey there, thanks for waiting! Attached is the file. I used one decimal place for the answer. If the instructions for this is for a whole number, you can just round it off. Let me know if you have any questions or edits. Thanks again! :)
Rodriguez Compa...
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