Pitney Co. purchased an office building, land, and furniture for $650,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total Required $145,600 218,400 364,000 $728,000 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.) Land Building Furniture Total Allocated Cost
Pitney Co. purchased an office building, land, and furniture for $650,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total Required $145,600 218,400 364,000 $728,000 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.) Land Building Furniture Total Allocated Cost
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 60P
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Question
![Pitney Co. purchased an office building, land, and furniture for $650,000 cash. The appraised value of the assets was as follows:
Land
Building
Furniture
Total
$145,600
218,400
364,000
$728,000
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.)
Land
Building
Furniture
Total
Allocated Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbfff72d7-573d-4332-bfc5-7070a4795d63%2F5f2c2b1b-e13c-4a39-8c21-cc9c7b513f67%2F0322l7g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pitney Co. purchased an office building, land, and furniture for $650,000 cash. The appraised value of the assets was as follows:
Land
Building
Furniture
Total
$145,600
218,400
364,000
$728,000
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.)
Land
Building
Furniture
Total
Allocated Cost
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