? ? ezto.mheducation.com/hm.tpx The following information applies to the questio

Question

? ? ezto.mheducation.com/hm.tpx The following information applies to the questions displayed below Bridge City Consulting bought a building and the land on which it is located for $120,000 cash. The land is estimated to represent 70 percent of the purchase price. The company peid S10.000 for building renovations before it was ready for use. value 11.11 points Required: 2. Prepare the journal entry to record all expenditures Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transactlon/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year O Type here to search

Explanation / Answer

Journal entry :

Date account & explanation debit credit Land (120000*70%) 84000 Building 46000 Cash 130000 (To record purchase land and building)

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.