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Exercise 6-5A (Algo) Allocating costs on the basis of relative market values LO 61 Carver Inc. purchased a building and the land on which the

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Exercise 6-5A (Algo) Allocating costs on the basis of relative market values LO 61 Carver Inc. purchased a building and the land on which the building is situated for a total cost of $819,100 cash. The land was appraised at $141,295 and the building at $800,670. Required Q. 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 horizontal statements model. Complete this question by entering your answers in the tabs below. What is, the accounting term for this type of acquisition? 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 horizontal statements model. Complete this question by entering your answers in the tabs below. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. (Round) intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) o. 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 horizontal statements model. Complete this question by entering your answers in the tabs below. Would the company recognize a gain on the purchase? b. Vetermine the amount or the purcnase cost to alocate to the land and the amount to aliocate to the bulloing. c. Would the company recogrize a gain on the purchase? d. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Record the purchase in a horizontal statements model. (In the Casth flow column, indicate whether the item is an operating adivity (OA), in investing activity (iA). or a financing activity (FA). If an element is not affected by the event, leave the celt blank. Enter any decreases to account balances and cash outflows with is minus sign. Round intermedate calculations to 2 decimal places atnd final answers to the nearest whole number. Not all cells will reguire entiyi)

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