Allocate the total cost among the three purchases assets in n applies to the que

Question

Allocate the total cost among the three purchases assets in n applies to the questions displayed below Litua Company pays $355,000 for real estate plus $18,815 in closing costs. The real estate consists of land eppraised at $230,000, land Improvements appraised at $80,000a and a building appraised at $190,000 Required Information 5.00 points Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) r Apportioned Cost answers to 2 Percent of Total Total Cost of Apportioned Appraised Percent ppra Value Value cquisiti Cost Land Land improvements Building Totals k 373815 45%) 100% . 373815

Explanation / Answer

Land = 373815 x 0.4 = $149526

Land improvements = 373815 x 0.15 = $56072.25

Building = 373815 x 0.45 = $168216.75

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