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On January 1 Mitru Company pays a lump-sum arnount of $2,700,000 for land, Building 1...

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Accounting

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On January 1 Mitru Company pays a lump-sum arnount of $2,700,000 for land, Building 1 . Bullding 2 , and Land ingroversents 1 Buliding 1 has no value and will be demolished. Bulding 2 will be an office and is appraised at $678,500. with a vieful tife of 20 years and a $80,000 salvage value. Land improvements 1 is valued at $442,500 and is expected to last another 15 years with no salvage valuo. The land is valued ot $1,829,000. The company also incurs the following adstonal costs. Chat ge dewaliah sukaine 1. 1341,490 193.400 2,242,000 170,050 2. Prepare a single joumal entry to record all the incurred costs assuming they are paid in cash on Janusry t Journal entry worksheet Record the cost of the plant asets, paid in cash

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