Prepare the journal entry to record the acquisition


Purchase land and building for $134,000. There is no evidence of separate price agreed up on for the land and the building, however an appraisal for the assets at date of acquisition is as follows: Land $60,000, Building $80,000. Prepare the journal Entry to record the acquisition

 

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Prepare the journal entry to record the acquisition
Reference No:- TGS0100442

Expected delivery within 24 Hours