Cycle Company Ltd. made a lump-sum purchase of land, buildings, and equipment for $630,000. The appraised market values for the items are respectively, $210,000, $322,000, and $168,000. Cycle Company Ltd. should debit the equipment account for:

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The equipment account should be debited based on its proportion of the total purchase price. The total appraised value is $210,000 (land) + $322,000 (buildings) + $168,000 (equipment) = $700,000. The equipment's proportion is $168,000 / $700,000 = 0.24. Therefore, the equipment account should be debited for 0.24 * $630,000 = $151,200.