Journal entry
Date | account and explanation | Debit | Credit |
Lot 1 (210000*25%) | 52500 | ||
Lot 2 (210000*70%) | 147000 | ||
Lot 3 (210000*5%) | 10500 | ||
Cash | 210000 | ||
(To record purchase land) |
All info needed is in the table included. Thank you Oakwood Properties bought three lots in a subdivision for a lump...
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,...
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.
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...
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...
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...
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...
Part (4) 1) XYZ Corporation bought three lots in a subdivision for a lump sum price. An independent appraiser valued the lots as follows: Lot (1) 45,000 Lot (2) 292,500 and Lot (3) 112,500 XYZ Corporation paid $ 435,000 in cash. What is the amount allocated to Lot (272 A) S 300,000 B) S 255.000 C) S 282,750 D) $285,000 2) On January 1, 2018 Blue Corporation purchase a new truck with cost of 12,000 and savage value of $...
Please help. The requirements are the questions.
Thanks
Deadwood Manufacturing bought three used machines in a $148,000 lump-sum purchase. An independent appraiser valued the machines as shown: EEB(Click on the icon to view the appraised values.) Read the requirement culations.) X X Data Table Requirement Machine No. 1. What is each machine's individual cost? Immediately after making this purchase, Deadwood sold Machine No. 3 for its appraised value. What is the result of the sale? (Round decimals to three places...