1 Exercise 8-5A Allocating costs on the basis of relative market values LO 8-1 16.66 point Carver Inc. purchased a building and the land on which the building is situated for a total cost of $924,100 cash. The land was appraised at $180,662 and the building at $882,053 Required What is the accounting term for this type of acquisition? b. Determine the amount of the purchase cost to allocate to the tand and the amount to allocate to the building c. Would the company recognize again on the purchase? d. Record the purchase in a statements model. Boor Hint Complete this question by entering your answers in the tabs below. Print Required Required Required Required What is the accounting term for this type of acquisition Type of acquisition as per acounting Basket purchase Pemulted A Required > 1 16.66 po Exercise 8-5A Allocating costs on the basis of relative market values LO 8-1 Carver Inc purchased a building and the land on which the building is situated for a total cost of $924,100 cash. The land was appraised at $180,662 and the building at $882,053. Required a. What is the accounting term for this type of acquisition? b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building c. Would the company recognize a gain on the purchase? d. Record the purchase in a statements model. ebook Hint Complete this question by entering your answers in the tabs below. Print Required A Required B Required Required D Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building (Do not round intermediate calculations. Round your final answers to nearest whole dollar) Allocated Cost Land 837.950 Building 35.132 Total $ 874 02 Check my Exercise B-SA Allocating costs on the basis of relative market values LO 8-1 Carwets, pachanted a bunding and me land on which the building in stoned for a total cost of $924,700 cath. The land was appraised $180662 and the building at $882053 Required What is the accounting term for this type of acquisition b. Determine the amount of the purchase cost to locate to the land and the amount to locate to the building c. Would the company recognize again on the purchase? d. Record the purchase in a statement model Complete this question by entering your answers in the tabs below. und wired red ched econd the purchme in a statement of the following one (Dot round monedate calculeront round your fingers to rest wil on InDe Cashflow.com A directing action for investing activity, ochranong activity, NC for et convenced NA for not affected. Eriter any secret account CARVERING Model cement ED - Neline Statens och