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Pitney Co. purchased an office building, land, and furniture for $616,800 cash. The appraised value...

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Accounting

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Pitney Co. purchased an office building, land, and furniture for $616,800 cash. The appraised value of the assets was as follows: Land Building Furniture Total 5. 96,714 221,061 373,041 $690,816 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: c. Prepare the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the amount to be recorded on the books for each asset. (Do not round Intermediate calculations. Round your final answers to nearest whole dollar) Allocated Cost Land Building Furniture Total PITNEY CO. Statements Model Equity Net Income Expenses Cash Flows Revenue Assets Cash Land Building Furn Journal entry worksheet A Record purchase of land, building and furniture for cash. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal

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