Homework Answers
| Lot | Appraised Value | Percentage | Allocation of $400000 cash paid |
| 1 | $144000 | 30% | $120000 |
| 2 | $120000 | 25% | $100000 |
| 3 | $216000 | 45% | $180000 |
| Total | $480000 | 100% | $400000 |
| Journal Entry | |||
| Date | Accounts and Explanation | Debit | Credit |
| Land-Lot 1 | $1,20,000 | ||
| Land-Lot 2 | $1,00,000 | ||
| Land-Lot 3 | $1,80,000 | ||
| Cash | $4,00,000 | ||
| (Being 3 Lots of Land purchased for $400000 apportioned in ratio of Appraised value.) | |||
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Data Table Appraised Value Lot 1 144,000 120,000 3 216,000 Print Done %24 Eastwood Properties bought...
Eastwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued...
Eastwood Properties bought three lots in a subdivision for a
lump-sum price. An independent appraiser valued the lots as
follows:
Eastwood 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. (Record a single compound journal entry. Record
debits first, then credits. Select the explanation on the last
line of the journal entry table.)
Lot $ Appraised Value 49,000 98,000 343,000...
E9-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for...
E9-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: dearcdeser Lot Appraised Value $ 144,000 96,000 240,000 Maplewood paid $355,000 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.
Samuel Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued...
Samuel Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: Lot 1 - 225,000 appraised value lot 2 - 100,000 appraised value lot 3 - 175,000 appraised value Samuel properties paid $ 380,000 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. (Record a single compound journal entry. Record debits first,...
All info needed is in the table included. Thank you Oakwood Properties bought three lots in a subdivision for a lump...
All info needed is in the table included. Thank you
Oakwood Properties bought three lots in a subdivision for a lump sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Oakwood paid $210,000 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 (Record a single compound journal entry. Record debits first, then credits....
E10-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for...
E10-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: Learning Objective 1 Lot 3 5177 500 Lot Appraised Value 1 $ 144,000 2 96,000 240,000 Maplewood paid $355,000 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. Learning Ob
On thw journal entry I put the answer as: Land-Lot 1: Debit-> 106500 Land-Lot 2: Debit->...
On thw journal entry I put the answer as:
Land-Lot 1: Debit-> 106500
Land-Lot 2: Debit-> 71000
Land-lot 3: Debit-> 1775000
Cash: Credit-> 355000
but it came as wrong answer
Maplewood Properties bought the lots in a subdivision for a lump sum price. An independert appraiser valued the lots as follows: Click the icon to view the values :) Maplewood paid $55.000 in cash Record the purchase in the jour dentifying each lot's cost in a parte and count Round...
preciate king a lump-sum purchase of assets E10-18 Making a lu Maplewood Properties be ties bought three lots in a...
preciate king a lump-sum purchase of assets E10-18 Making a lu Maplewood Properties be ties bought three lots in a subdivision for a lump sum price. An valued the lots as follows: independent appraiser valued the lot Learning Objective 1 Lot CHAPTER 16 Appraised Value $ 144,000 N 96,000 240,000 w Maplewood paid $355,000 in cash. Recor lot's cost in a separate Land acco computed percentages throughout. od paid $355,000 in cash. Record the purchase in the journal, identifying each...
Southwood Properties bought the lots in a suivision for a lumpsum price. An independent proses vahend...
Southwood Properties bought the lots in a suivision for a lumpsum price. An independent proses vahend the lots as follows: (Click the icon to view the value) Southwood paid $266,000 inch Record the purchase in the jouw, detyg each lors cost in a pwal Land account Round decimals to two pies, and the computed percentage thoutout Hecord a single compound juntry Record debits first, then credits Select the explanation on the last line of the jument) Date Accounts and Explanation...
Eastwood Properties bought three lots in a subdivision for a
lump-sum price. An independent appraiser valued the lots as
follows:
Eastwood 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. (Record a single compound journal entry. Record
debits first, then credits. Select the explanation on the last
line of the journal entry table.)
Lot $ Appraised Value 49,000 98,000 343,000...
E9-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: dearcdeser Lot Appraised Value $ 144,000 96,000 240,000 Maplewood paid $355,000 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.
All info needed is in the table included. Thank you
Oakwood Properties bought three lots in a subdivision for a lump sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Oakwood paid $210,000 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 (Record a single compound journal entry. Record debits first, then credits....
E10-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: Learning Objective 1 Lot 3 5177 500 Lot Appraised Value 1 $ 144,000 2 96,000 240,000 Maplewood paid $355,000 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. Learning Ob
On thw journal entry I put the answer as:
Land-Lot 1: Debit-> 106500
Land-Lot 2: Debit-> 71000
Land-lot 3: Debit-> 1775000
Cash: Credit-> 355000
but it came as wrong answer
Maplewood Properties bought the lots in a subdivision for a lump sum price. An independert appraiser valued the lots as follows: Click the icon to view the values :) Maplewood paid $55.000 in cash Record the purchase in the jour dentifying each lot's cost in a parte and count Round...
preciate king a lump-sum purchase of assets E10-18 Making a lu Maplewood Properties be ties bought three lots in a subdivision for a lump sum price. An valued the lots as follows: independent appraiser valued the lot Learning Objective 1 Lot CHAPTER 16 Appraised Value $ 144,000 N 96,000 240,000 w Maplewood paid $355,000 in cash. Recor lot's cost in a separate Land acco computed percentages throughout. od paid $355,000 in cash. Record the purchase in the journal, identifying each...
Southwood Properties bought the lots in a suivision for a lumpsum price. An independent proses vahend the lots as follows: (Click the icon to view the value) Southwood paid $266,000 inch Record the purchase in the jouw, detyg each lors cost in a pwal Land account Round decimals to two pies, and the computed percentage thoutout Hecord a single compound juntry Record debits first, then credits Select the explanation on the last line of the jument) Date Accounts and Explanation...
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