Question
Pitney Company purchased an office building, land, and furniture for $630,000 cash. The appraised value of the assets was as follows: Land $ 91,728 Building
Pitney Company purchased an office building, land, and furniture for $630,000 cash. The appraised value of the assets was as follows:
| Land | $ 91,728 |
|---|---|
| Building | 204,624 |
| Furniture | 409,248 |
| Total | $ 705,600 |
Required
Compute the amount to be recorded on the books for each asset.
Show the purchase in a horizontal statements model.
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ACC 120 Wake Tech Financial Accounting W Connect Plus Access
Authors: J. David Spiceland
1st Edition
1308168926, 978-1308168920
