[Rarequeen]

can you look at this and tell me what I am doing wrong I did some but could not figure the rest can someone please help and tell me how to go about getting the 1% or if it is more than 1%.
Xavier Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2005, at a total cash price of $787,500 for a building, land, land improvements, and six vehicles. The estimated market values of the assets are building, $408,000; land, $289,000; land improvements, $42,500; and four vehicles, $110,500. The company’s fiscal year ends on December 31.
Prepare a table to allocate the lump-sum purchase price to the separate assets purchased (round percents to the nearest 1%). Prepare the journal entry to record the purchase.

ZAVIER CONSTRUCTION
Schedule

Appraised PercentageApportioned
Value of Total Cost
Building $408,000 $
Land 289,000
Land Impr 42,500
Vehicles 110,500
Totals $850,000 $787,500 «- Correct!


ZAVIER CONSTRUCTION
General Journal

Trans.
Date Account Titles no. Debit Credit
Mar 1 Building
Land
Land Improvements
Vehicles
Cash 787,500

this is what I had to use for the top
ZAVIER CONSTRUCTION

Cash price for all assets purchased $787,500
Estimated market values:
Building 408,000
Land 289,000
Land improvements 42,500
Vehicles (4) 110,500
Building:
Useful life in years 15
Salvage value 25,650
Land improvements useful life in years 5