--%>
Assignment Help - homework help

Prepare journal entry to record acquisition of four assets

On December 31, 20x1, the Juniper Company purchase a group of four assets for a total cost of $850,000. An independent appraiser assesses the fair value of each asset as

follows:

Asset Fair Value

Land $100,000

Building 600,000

Equipment 250,000

Fixtures 150,000

Prepare the journal entry to record the acquisition of the four assets.

   Related Questions in Financial Accounting

  • Q : Explain Agricultural business Explain

    Explain the term Agricultural business in term of Accounting?

    		•
  • Q : Define Conspicuous Consumption

    Conspicuous Consumption: It is the phenomena of spending money on services and goods which are not required but keeping them gives you a high social status. Those things are kept mainly for the purpose of displaying and creating a false image of your

    		•
  • Q : Finalization of Accounts What does the

    What does the term Finalization of Accounts mean?

    		•
  • Q : Lessons from experiences of Novo State

    State some of the factors which motivated Novo Industries to seek the U.S. listing of its stock. Explain about the lessons which may be derived from experiences of Novo?

    		•
  • Q : Project Advantages-disadvantages of

    Advantages-disadvantages of internal rate of return method

    		•
  • Q : Explain the term Goodwill Explain the

    Explain the term Goodwill with espect to intangible asset?

    		•
  • Q : Relative and absolute purchasing power

    Explain about the purchasing power parity, both the relative and absolute versions. List the things which results in the deviations from purchasing power parity?

    		•
  • Q : Characteristics of straight fixed-rate

    State the characteristics of the straight fixed-rate bond market instrument.

    		•
  • Q : Interest rate Give me answer of this

    Give me answer of this question. The prime interest rate usually: A) rises when the Federal funds rate rises. B) rises when the discount rate falls. C) falls when the Federal funds rate rises. D) falls when the Fed sells bonds in the open market

    		•
  • Q : Ihi Which of the following adjustments

    Which of the following adjustments is an example of an accrual adjustment? an asset/expense adjustment involving depreciation an asset/expense adjustment involving insurance a liability/expense adjustment involving utility expenses a liability/revenue adjustment involving unearned revenues

    		•