Problem: Module 2 Textbook Problem 13 Learning Objective: 2-8 Identify and determine the cost of long-term operational assets Pitney Co. purchased an office building, land, and furniture for $620,000 cash. The appraised value of the assets was as follows: Land Building Furniture $138,880 208,320 347, 200 $694,400 Total Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the ks for each asset. Do not round intermediate calculations. Round your final by entering your answers in the tab Required A Required B Compute the amount to be recorded on the books for each asset. (De answers to nearest whole dollar.) Allocated Cost Land $ 186,000 310.000 Building Furniture 124.000 620,000 Total $ 13 Required A Required B 5 Ints Record the purchase in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), (FA); leave the cell blank if the Statement of Cash Flows is not affected. Enter any decreases to account balances and cash outflows with a calculations. Round your final answers to the nearest whole dollar. Not all cells will require entry.) Hint PITNEY CO. Print Horizontal Statements Model Balance Sheet Income Statement Assets Statement of Cash Flow Liabilities Equity Revenue Net Income Expense Cash Land Building + Furniture + + +