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Finley Company is looking for a new office location and sees a building with a...

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Accounting

Finley Company is looking for a new office location and sees a building with a fair value of $800,000. Finley also notices that much of the equipment in the existing building would be useful to its own operations. Finley estimates the fair value of the equipment to be $120,000. Finley offers to buy both the building and the equipment for $850,000, and the offer is accepted.
Determine the amounts Finley should record in the separate accounts for building and equipment. (Do not round intermediate calculations.)
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