Exercise 8-6A (Algo) Allocating costs for a basket purchase LO 8-1 Pitney Company purchased an office building, land, and furniture for $780,000 cash. The appraised value of the assets was as follows $ 131,040 253,344 489,216 $ 873,600 Land Building Furniture Total Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the books for each asset. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Land Building Furniture Total Allocated Cost $ 0 < Required A Required B >
Exercise 8-6A (Algo) Allocating costs for a basket purchase LO 8-1 Pitney Company purchased an office building, land, and furniture for $780,000 cash. The appraised value of the assets was as follows $ 131,040 253,344 489,216 $ 873,600 Land Building Furniture Total Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the books for each asset. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Land Building Furniture Total Allocated Cost $ 0 < Required A Required B >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2
9
ts
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eBook
Hint
Mc
Graw
Exercise 8-6A (Algo) Allocating costs for a basket purchase LO 8-1
Pitney Company purchased an office building, land, and furniture for $780,000 cash. The appraised value of the assets was as follows:
$ 131,040
253,344
489, 216
$ 873,600
Land
Building
Furniture
Total
Required
a. Compute the amount to be recorded on the books for each asset.
b. Show the purchase in a horizontal statements model.
Complete this question by entering your answers in the tabs below.
Required A Required B
Compute the amount to be recorded on the books for each asset.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Land
Building
Furniture
Total
Allocated
Cost
S
0
< Required A
Required B >
< Prev
2 of 11
Next >

Transcribed Image Text:Furniture
Total
Required
a. Compute the amount to be recorded on the books for each asset.
b. Show the purchase in a horizontal statements model.
Complete this question by entering your answers in the tabs below.
489,216
$ 873,600
Required A Required B
Show the purchase in a horizontal statements model.
Note: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net cha
and cash outflows with a minus sign. Not all cells require input. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
Cash
+
+
Land
53°
Assets
+
+
Balance Sheet
Building
+
+
Furniture
=
PITNEY COMPANY
Horizontal Statements Model
Liability
< Prev
+
2 of 11
*
Stockholder's
Equity
< Required A
Revenue
Next >
dal
PrtScn
Income Statement
Expenses
Home
=
=
Required By
End
Net Income
PaUp
Statement of Cash
Flows
PqDn
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