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Ques 1

Alloacation of total Percent of total total cost of Apportioned


cost Appraised value appraised value x acquisition cost
Building $ 494,700 51% x $ 840,000 $ 428,400
Land $ 291,000 30% x $ 840,000 $ 252,000
Land improvements $ 48,500 5% x $ 840,000 $ 42,000
Vehicles $ 135,800 14% x $ 840,000 $ 117,600
Total $ 970,000 100% x $ 840,000

Ques 2

Date General Journal Debit Credit

Jan-01 Building $ 428,400


Land $ 252,000
Land improvements $ 42,000
Vehicles $ 117,600
cash $ 840,000

Ques 3
Building $ 428,400
Less:salvage value $ (31,000)
$ 397,400
Divided by life 15
annual depriciation $ 26,493

Ques 4

Depriciation on land improvements=42000*2/5= $ 16,800


Ques 1

Alloacation of total Percent of total total cost of Apportioned


cost Appraised value appraised value x acquisition cost
Building $ 544,500 55% x $ 820,000 $ 451,000
Land $ 297,000 30% x $ 820,000 $ 246,000
Land improvements $ 49,500 5% x $ 820,000 $ 41,000
Vehicles $ 99,000 10% x $ 820,000 $ 82,000
Total $ 990,000 100% x $ 820,000

Ques 2

Date General Journal Debit Credit

Jan-01 Building $ 451,000


Land $ 246,000
Land improvements $ 41,000
Vehicles $ 82,000
cash $ 820,000

Ques 3
Building $ 451,000
Less:salvage value $ (28,000)
$ 423,000
Divided by life 15
annual depriciation $ 28,200

Ques 4

Depriciation on land improvements=41000*2/5= $ 16,400