Can you answer all of these blanks? I don't know how to.
Carver Inc. purchased a building and the land on which the building is situated for a total cost of $956,100 cash. The land was appraised at $208,908 and the building at $890,607. 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the accounting term for this type of acquisition? Type of acquisition as per accounting I l Carver Inc. purchased a building and the land on which the building is situated for a total cost of $956,100 cash. The land we appraised at $208,908 and the building at $890,607. Required 3. 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. Complete this question by entering your answers in the tabs below. Required A Required C 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.) Required B _ Total Carver Inc. purchased a building and the [and on which the building is situated for a total cost of $956,100 cash. The land was appraised at $208,908 and the building at $890,607. Required a. What is the accounting term for this type of acquisition? b. Determine the amount ofthe 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? I l 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. Complete this question by entering your answers in the tabs below. Required Required Required Required D Record the purchase in a statements model like the following one. (Do not round intermediate calculations. Round your final answers to neare initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA for not affected. minus sign.) CARVER INC. Statements Model Balance Sheet Income Statement Assets Liabilities Equity Revenue Expenses Net Income Statement of Cash Flows Cash Land Building +
