Diego Company paid $186,000 cash to acquire a group of items consisting of land appraised at $53,000 and a building appraised at $159,000. Allocate total cost to these two assets and prepare an entry to record the purchase. Complete this question by entering your answers General Total Cost Journal Prepare an entry to record the purchase. View transaction list Journal entry worksheet A Record costs of lump-sum purchase.

Journal Entries: Disposition of Plant Assets Prepare the entries for the transactions using a general journal. 1. Discarding an asset. a. On January 4, shelving units, which had a cost of $6,400 and had accumulated depreciation of $5,900, were discarded. b. On June 15, a hand cart, which had a cost of $1,500 and had accumulated depreciation of $1,350, was sold for $150. c. On October 1, a copy machine, which had a cost of $7,200 and had accumulated depreciation of $6,800, was sold for $450. Page: 1 DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Jan. 4 2 2 3 4. 4 June 15 6 6 7 7 8 9. Oct. 1 9 10 10 11 11 12 12 2. Exchange or trade-in of assets. a. On December 31, a drill press, which had a cost of $60,000 and had accumulated depreciation of $48,000, was traded in for a new drill press with a fair market value of $75,000. The old drill press and $65,000 in cash were given for the new drill press. b. On December 31, the old drill press in (a) and $60,000 in cash were given for…

Oo.129. Subject:- Account

Rahul