EXERCISE 8-6A

Exercise 8-6A Allocating costs for a basket purchase Pitney Co. purchased an office building, land, and furniture for $500,000 cash. The appraised value of the assets was as follows: Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model like the following one: Exercise 8-6A Allocating costs for a basket purchase Accounting for Long-Term Operational Assets Pitney Co. purchased an office building, land, and furniture for $500,000cash. The appraised value of the assets was as follows: Required a. Compute tho arbiunt io be recorded on the books for each asset. b. Show the purchuse in a horizontal statements model like the following one: Exercise 8-6A Allocating costs for a basket purchase Accounting for Long-Term Operational Assets Pitney Co, purchased an office brillding, land, and furniture for $500,000 cash. The appraised value of the assets was as follows: Required 3. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model like the following one: Exercise 8-6A Allocating costs for a basker purchase Acrounting for Long Term Operational Assets puney Co. parchased an office building. land, and furniture for $500.000cash. The appraised value of the assets was as follows: Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model like the following one