lumpsum Appraised Value

Southwood Properties bought three lots in a subdivision for a lumpsum Appraised Value
price. An independent appraiser valued the lots as shown in the table on the
right. Southwood paid $415000 in cash. 5 225.000
Requirement 250 000
1. Record the purchase in the journal. identifying each Iot’s cost in a

separate Land account. Round decimals to two places. and use your 25.000

computed percentages throughout.
Requirement 1. Record the purchase in the journal. identifying each Iot’s cost in a separate Land account. Round decimals to two
places. and use your computed percentages throughout.

Journal Entry
liar
Choose from any list or enter any number in the input fields, then click Check Answer.

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