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On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $561,800 for real estate plus $30,300 cash in cl
Posted: Tue Jul 05, 2022 11:22 am
by answerhappygod
- On April 12 2020 Prism Ltd A Camera Lens Manufacturer Paid Cash Of 561 800 For Real Estate Plus 30 300 Cash In Cl 1 (310.5 KiB) Viewed 15 times
On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $561,800 for real estate plus $30,300 cash in closing costs. The real estate included land appraised at $198,990; land improvements appraised at $66,330; and a building appraised at $337,680. (b) PPE Asset View transaction list (a) Appraised Values Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) 1 Journal entry worksheet Ratio of Individual Appraised Value to Total Appraised Value (a) Total Appraised Value Record the costs of lump-sum purchase. Note: Enter debits before credits. Date April 12, 2020 General Journal + Debit (c) Cost Allocation (b) x Total Actual Cost Credit