Carver Inc. purchased a building and the land on which the building is situated for total cost of appralsed at $156,872 and the building at $888,938. 909,400 cash. Ihe land wos 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 bullding. c. Would the company recognize a gain on the purchase? d. Record the purchase in a statements model What is the accounting term for this type of acquisition? Type of acquisition as per accountng Determine the amount of the purchase cost to allocate to the land and the amount to allccate to the building. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Cost Would the company recognize a gain on the purchase? Land Building Tolal Would the company recognize a gain on the purchase? INC. Statements Model Balance Sheet Income Statement Statement of Cash Flows Assets Liabilities+ Equity RevenueExpenses Net Income Cash Land Building 1203, 10Bpox 1912 x 825px 100% G 11:45 PM Type here to search