On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $560,600 for real estate plus $30,200 cash in cl

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On April 12 2020 Prism Ltd A Camera Lens Manufacturer Paid Cash Of 560 600 For Real Estate Plus 30 200 Cash In Cl 1 (51.71 KiB) Viewed 18 times

On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $560,600 for real estate plus $30,200 cash in closing costs. The real estate included land appraised at $204,680; land improvements appraised at $72,240, and a building appraised at $325,080. PPE Asset View transaction list Appraised Values 1 Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Date April 12, 2020 Ratio of Individual Appraised Value to Total Appraised Value (a) Total Appraised Value Denned ont (b) General Journal Clear entry Debit (c) Cost Allocation (b) x Total Actual Cost Credit View general journal