Exercise 8-6A (Algo) Allocating costs for a basket purchase LO 8-1

Pitney Company purchased an office building, land, and furniture for $800,000 cash. The appraised value of the assets was as follows:

Land	$ 98,560
Building	313,600
Furniture	483,840
Total	$ 896,000

Required

Compute the amount to be recorded on the books for each asset.

Show the purchase in a horizontal statements model.

a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Compute the amount to be recorded on the books for each asset. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Show the purchase in a horizontal statements model. Note: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change and cash outflows with a minus sign. Not all cells require input. Do not round intermediate calculations. Round your final answers to the nearest whole dollar