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On April 12,2023, Prism Ltd., a camera lens manufacturer, paid cash of $560,600 for real...

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Accounting

On April 12,2023, Prism Ltd., a camera lens manufacturer, paid cash of $560,600 for real estate plus $30,200 cash in closing costs.
The real estate included land appraised at $204,680; land improvements appraised at $72,240; and a building appraised at $325,080.
(a)
(b)
Appraised
Ratio of Individual Appraised Value to
(c)
(a)
Total Appraised Value
Cost Allocation
Values
(a) Total Appraised Value
(b) Total Actual
PPE Asset
Values
Cost
points awarded
Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest
whole dollar.)
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