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Pitney Co purchased an office building, land, and furniture for...

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Accounting

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Pitney Co purchased an office building, land, and furniture for $700,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total $101,920 290,080 392,000 $784,000 Required a. Compute the amount to be recorded on the books for each asset. b. Show 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 books for each asset. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Allocated Cost Land Building Furniture Total $ 0 Requin Required B > Complete this question by entering your answers in the tabs below. Required A Required B Show the purchase in a horizontal statements model (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input. Do not round Intermediate calculations. Round your finala PITNEY CO Horizontal Statements Model Balance sheet Income Statement Assets Liability Statement of Cash Flows Stockholder's Equity Revenue Expenses - Net Income Cash Land Building Furn

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