Carver incorporated purchased a building and the land on which the building is situated for a total cost of $991,500 cash. The land was appraised at $228,045 and the building at $912,180. 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. Determine the amount of the purchase cost to allocate to the fand and the amount to allocate to the building. (Do not round Intermediate calculations. Round your final answers to nearest whole dollar.) Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $991,500 cash. The lanc was appraised at $228,045 and the building at $912,180. 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. Would the company recognize a gain on the purchase? Would the company recognize a gain on the purchase? a. record the putcrase in generat joutrai iormat. Complete this question by entering your answers in the tabs below. Riecord the purchase in a horitontal statements model. (In the Statement of Cash flows columin, use the Initials of to designate operating activity, in for inveiting activi financing activity. Leave blank to indicate that an element is not affected by the event, Lnter any decreases to acceunt balances and cash outfows with a minus ing. Of Intermediate calculations. Round your finai answers to the nearest whole dofine.) Record the purchase in general journal format. (Do not round intermediate calculations. Round your final answers to ne: dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account fleid.) Journal entry worksheet Record purchase of land and bullding for cash. Note: Enter debits before credits