4 3.07 points Skipped eBook Hint Print References Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $895,400 cash. The land was appraised at $164,754 and the building at $864,956. Required a. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. b. Would the company recognize a gain on the purchase? c. Record the purchase in a horizontal statements model. d. Record the purchase in general journal format. Complete this question by entering your answers in the tabs below. Required A Required B 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.) Land Building Total Allocated Cost $ Required C Required D 0 Chec

Carver incorporated purchased a bulding and the land on which the bullding is stuated for a total cost of 5895,400 cash, the land was appraised at $164,754 and the bulding at $864,956. Required a. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the bulding. b. Would the compary recognire a gain on the purchase? c. Aecord the purchase in o horizontal statements model d. Record the putchase in geserat journal format. Complete this question by entering vour answers in the tabs below. Determine the anount of the purchase cost to allocate to the iand and the amount to alocate to the building. (Do not raund intermediate calculations. Heund vour final answers to mearest whole dollar.)