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Diego Company paid $199,000 cash to acquire a group of items consisting of land appraised...

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Accounting

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Diego Company paid $199,000 cash to acquire a group of items consisting of land appraised at $47,600 and a building appraised at $190.400. Allocate total cost to these two assets and prepare an entry to record the purchase Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Total Cost General Journal Allocate total cost to these two assets. Percent of Apportioned Total Cost Land 25% $ Building 75% 190,400 Totals 100% $ 238,000 47.600 Total General Journal > Diego Company paid $199,000 cash to acquire a group of items consisting of land appraised at $47,600 and a building appraised at $190,400. Allocate total cost to these two assets and prepare an entry to record the purchase. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Total Cost General Journal Prepare an entry to record the purchase. No General Journal Credit Transaction 1 Debit 47,600 190,400 Land Building Cash 199,000 Total Cost General Jel>

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