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Pitney Co. purchased an office building, land, and furniture for $636,700 cash. The appraised value of the assets was as follows: Land $121,228 Building Furniture 199,669 eBook 392,207 Total $713,104 Ask Print Required a. Compute the amount to be recorded on the books for each asset. b. Record 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total KReguiredA Required B Mc Pitney Co. purcnasea an office buliding, lana, ana turniture for po3o,/00 casn. Tne appraisea vaiue of tne assets was as foiiows: Land $121,228 Building Furniture 199,669 392,207 Total $713,104 Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the purchase in a horizontal statements model. (In the Cash Flow column, use the initials OA to designate operating activity, IA for in for net change in cash; leave the cell blank if the Statement of Cash Flow is not affected. Enter any decreases to account balances with a mir PITNEY CO. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Net Liabilities Equity Revenue Expense Cash Land + Building Furniture Income

Pitney Co. purchased an office building, land, and furniture for $636,700 cash. The appraised value of the assets was as follows: Land $121,228 Building Furniture 199,669 eBook 392,207 Total $713,104 Ask Print Required a. Compute the amount to be recorded on the books for each asset. b. Record 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total KReguiredA Required B Mc Pitney Co. purcnasea an office buliding, lana, ana turniture for po3o,/00 casn. Tne appraisea vaiue of tne assets was as foiiows: Land $121,228 Building Furniture 199,669 392,207 Total $713,104 Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the purchase in a horizontal statements model. (In the Cash Flow column, use the initials OA to designate operating activity, IA for in for net change in cash; leave the cell blank if the Statement of Cash Flow is not affected. Enter any decreases to account balances with a mir PITNEY CO. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Net Liabilities Equity Revenue Expense Cash Land + Building Furniture Income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pitney Co. purchased an office building, land, and furniture for $636,700 cash. The appraised value of the assets was as follows: Land $121,228 Building Furniture 199,669 eBook 392,207 Total $713,104 Ask Print Required a. Compute the amount to be recorded on the books for each asset. b. Record 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total KReguiredA Required B Mc
Transcribed Image Text:Pitney Co. purchased an office building, land, and furniture for $636,700 cash. The appraised value of the assets was as follows: Land $121,228 Building Furniture 199,669 eBook 392,207 Total $713,104 Ask Print Required a. Compute the amount to be recorded on the books for each asset. b. Record 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total KReguiredA Required B Mc
Pitney Co. purcnasea an office buliding, lana, ana turniture for po3o,/00 casn. Tne appraisea vaiue of tne assets was as foiiows: Land $121,228 Building Furniture 199,669 392,207 Total $713,104 Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the purchase in a horizontal statements model. (In the Cash Flow column, use the initials OA to designate operating activity, IA for in for net change in cash; leave the cell blank if the Statement of Cash Flow is not affected. Enter any decreases to account balances with a mir PITNEY CO. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Net Liabilities Equity Revenue Expense Cash Land + Building Furniture Income
Transcribed Image Text:Pitney Co. purcnasea an office buliding, lana, ana turniture for po3o,/00 casn. Tne appraisea vaiue of tne assets was as foiiows: Land $121,228 Building Furniture 199,669 392,207 Total $713,104 Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the purchase in a horizontal statements model. (In the Cash Flow column, use the initials OA to designate operating activity, IA for in for net change in cash; leave the cell blank if the Statement of Cash Flow is not affected. Enter any decreases to account balances with a mir PITNEY CO. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Net Liabilities Equity Revenue Expense Cash Land + Building Furniture Income
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