On January 19, Ivanova Inc. buys a land that includes a building and a variety of land improvements (i.e. fencing, parking lots, etc.) for the $300,000 cash. The land was recently appraised at $200,000, the building was recently appraised at $80,000, and the land improvements were recently appraised at $40,000. Journalize the basket purchase of the land, building, and land improvements Date Particulars PR D R C R
On January 19, Ivanova Inc. buys a land that includes a building and a variety of land improvements (i.e. fencing, parking lots, etc.) for the $300,000 cash. The land was recently appraised at $200,000, the building was recently appraised at $80,000, and the land improvements were recently appraised at $40,000. Journalize the basket purchase of the land, building, and land improvements Date Particulars PR D R C R
Chapter14: Choice Of Business Entity—operations And Distributions
Section: Chapter Questions
Problem 35P
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- On January 19, Ivanova Inc. buys a land that includes a building and a variety of land improvements (i.e. fencing, parking lots, etc.) for the $300,000 cash.
The land was recently appraised at $200,000, the building was recently appraised at $80,000, and the land improvements were recently appraised at $40,000.
Journalize the basket purchase of the land, building, and land improvements
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