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Use the purchases in the first picture for the horizontal statement model please. thanks. Exercise 6A( Algo) Allocating costs tor a basket purchase LU 7
Use the purchases in the first picture for the horizontal statement model please. thanks.
Exercise 6A( Algo) Allocating costs tor a basket purchase LU 7 Pilney Company purchased an office building, land, and furniture for $640,000cash. The appraised value of Ihe assets was as follows: a. Compule the amount to be recorded on the books for each assel. b. Show the purchase in a horlzontal slatements 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 intermedate calculations. Round your final answers to the nearest whole dollar. Complete this question by entering your answers in the tabs below. Show the purchase in a horizontal statements model. Note. In the Statemenk of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for finanoing activity, and NC. for net chat balances and cash outhows with a minus sign. Not all cells require input. Do not round intermediate calculations. Round your final answers to the neerest whole dollarStep by Step Solution
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