Question

Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $234,000; land improvements are appraised at $52,000; and a building is appraised at $234,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

Answer 1

Answer:$520,000 in an asset after land In conclusion asset is total-$109,330 in asset

Explanation:$520,000 in an asset after land In conclusion asset is total-$109,330 in asset