On February 3, Heidel Co. paid $750,000, check #2050 to buy the plant assets of Rogers Company that went out of business. An independent appraiser assigned the following values to the assets acquired. Based on the appraisal calculate the acquisition cost of each asset. Fill out the table below to show your work. Appraised Value Percent of Total Apportioned Cost Land $522,000 Building 243,000 Equipment 135,000 Total $900,000 Record the acquisition of these assets in the General Journal for Problem 3. Upload your file when finished.
On February 3, Heidel Co. paid $750,000, check #2050 to buy the plant assets of Rogers Company that went out of business. An independent appraiser assigned the following values to the assets acquired. Based on the appraisal calculate the acquisition cost of each asset. Fill out the table below to show your work. Appraised Value Percent of Total Apportioned Cost Land $522,000 Building 243,000 Equipment 135,000 Total $900,000 Record the acquisition of these assets in the General Journal for Problem 3. Upload your file when finished.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 7E: Loban Company purchased four cars for 9,000 each and expects that they will be sold in 3 years for...
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On February 3, Heidel Co. paid $750,000, check #2050 to buy the plant assets of Rogers Company that went out of business. An independent appraiser assigned the following values to the assets acquired. Based on the appraisal calculate the acquisition cost of each asset. Fill out the table below to show your work.
| Appraised Value | Percent of Total | Apportioned Cost | |
| Land | $522,000 | ||
| Building | 243,000 | ||
| Equipment | 135,000 | ||
| Total | $900,000 |
Record the acquisition of these assets in the General Journal for Problem 3. Upload your file when finished.
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