Heidel Co.paid $750,000 cash to buy the plant assets of Rogers Co.which went out of business.An independent appraiser assigned the following values to the assets acquired:
$$\begin{array} { | l | r | }
\hline \text { Land } & \$ 522,000 \
\hline \text { Building } & 243,000 \
\hline \text { Equipment } & \underline { 135,000 } \
\hline \text { Total } & \$ 900,000 \
\hline
\end{array}$$
Prepare Heidel's journal entry to record the acquisition of these assets.

Question

Heidel Co.paid $750,000 cash to buy the plant assets of Rogers Co.which went out of business.An independent appraiser assigned the following values to the assets acquired:
 $$\begin{array} { | l | r | } 
\hline \text { Land } & \$ 522,000 \
\hline \text { Building } & 243,000 \
\hline \text { Equipment } & \underline { 135,000 } \
\hline \text { Total } & \$ 900,000 \
\hline
\end{array}$$ 
Prepare Heidel's journal entry to record the acquisition of these assets.

Quizplus · Accepted Answer

The Answer of Heidel Co.paid $750,000 cash to buy the plant assets of Rogers Co.which went out of business.An independent appraiser assigned the following values to the assets acquired:
 $$\begin{array} { | l | r | } 
\hline \text { Land } & \$ 522,000 \
\hline \text { Building } & 243,000 \
\hline \text { Equipment } & \underline { 135,000 } \
\hline \text { Total } & \$ 900,000 \
\hline
\end{array}$$ 
Prepare Heidel's journal entry to record the acquisition of these assets.

Heidel CoPaid $750,000 Cash to Buy the Plant Assets of Rogers