Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $844,200 cash. The land was appraised at $213,583 and the building at $757,247. 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 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.) Allocated Cost Land Building Total $ 0 Required A Required B > Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $844,200 cash. The land was appraised at $213,583 and the building at $757,247. 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 Required C Required D Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? < Required A Required C > Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $844,200 cash. The land was appraised at $213,583 and the building at $757,247. 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 Required C Required D Record the purchase in a horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activi financing activity. Leave blank to indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign. De intermediate calculations. Round your final answers to the nearest whole dollar.) CARVER INCORPORATED Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Assets Liabilities Cash 4 Land Building Stockholders' Equity Revenue Expenses Net Income Flows Required Required D Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $844,200 cash. The land was appraised at $213,583 and the building at $757,247. 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 Required C Required D Record the purchase in general journal format. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record purchase of land and building for cash. Note: Enter debits before credits. Event General Journal Debit Credit . Drave 3. www Mailt