Homework Answers
| Appraised value | % of total | Cost to be allocated | Cost allocated | |
| Land-Lot 1 | 144000 | 30.00% | 355000 | 106500 |
| Land-Lot 2 | 96000 | 20.00% | 355000 | 71000 |
| Land-Lot 3 | 240000 | 50.00% | 355000 | 177500 |
| Total | 480000 | 355000 | ||
| Land-lot 3: Debit will be $177500 | ||||
| Date | Accounts and Explanation | Debit | Credit |
| Land-Lot 1 | 106500 | ||
| Land-Lot 2 | 71000 | ||
| Land-Lot 3 | 177500 | ||
| Cash | 355000 | ||
| To record purchase of three lots of land | |||
Add Answer to:
On thw journal entry I put the answer as:
Land-Lot 1: Debit-> 106500
Land-Lot 2: Debit->...
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.
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
Data Table Appraised Value Lot 1 144,000 120,000 3 216,000 Print Done %24 Eastwood Properties bought...
Data Table Appraised Value Lot 1 144,000 120,000 3 216,000 Print Done %24 Eastwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: E (Click the icon to view the values.) Eastwood paid $400,000 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...
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...
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....
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...
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.
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
Data Table Appraised Value Lot 1 144,000 120,000 3 216,000 Print Done %24 Eastwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: E (Click the icon to view the values.) Eastwood paid $400,000 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...
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...
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....
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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