Schwartz Co.paid $780,000 cash to buy the plant assets of Kimberly Co.that went out of business.An independent appraiser assigned the following values to the assets acquired:
$$\begin{array} { l l }
\text { Land } & \$ 522,000 \
\text { Building } & 243,000 \
\text { Equipment } & 135,000 \
\text { Total } & \$ 900,000
\end{array}$$
Prepare Schwartz' journal entry to record the acquisition of these assets.

Question

Schwartz Co.paid $780,000 cash to buy the plant assets of Kimberly Co.that went out of business.An independent appraiser assigned the following values to the assets acquired:
 $$\begin{array} { l l } 
\text { Land } & \$ 522,000 \
\text { Building } & 243,000 \
\text { Equipment } & 135,000 \
\text { Total } & \$ 900,000
\end{array}$$ 
Prepare Schwartz' journal entry to record the acquisition of these assets.

Quizplus · Accepted Answer

The Answer of Schwartz Co.paid $780,000 cash to buy the plant assets of Kimberly Co.that went out of business.An independent appraiser assigned the following values to the assets acquired:
 $$\begin{array} { l l } 
\text { Land } & \$ 522,000 \
\text { Building } & 243,000 \
\text { Equipment } & 135,000 \
\text { Total } & \$ 900,000
\end{array}$$ 
Prepare Schwartz' journal entry to record the acquisition of these assets.

Schwartz Co Prepare Schwartz' Journal Entry to Record the Acquisition of These