Pitney Co. purchased an office building, land, and furniture for $780,300 cash. The appraised value of...
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Pitney Co. purchased an office building, land, and furniture for $780,300 cash. The appraised value of the assets was as follows: Land Building Furniture $104, 872 262, 181 506, 883 $873, 936 Total 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 C 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 Drnit Next a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horízontal 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 Cc 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 Required B > Required A Required B Required C Show the purchase in a horizontal statements model like the following one: (Do not round intermediate calculations. Round your final answers to nearest whol column, use the Initials OA to designate operating activity, TA for investing activity, FA for financing activity, NC for net change in cash and NA for not affected account balances with o minus sign.) PITNEY CO. Statements Model Assets Equity Revenue Expenses -Net Income Cash Flows Cash Land Building Furn. < Required A Required C> Required A Required B Required C Prepare the general journal entry to record the purchase. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record purchase of land, building and furniture for cash. Note: Enter debits before credits Event General Journal Debit Credit 1. Pitney Co. purchased an office building, land, and furniture for $780,300 cash. The appraised value of the assets was as follows: Land Building Furniture $104, 872 262, 181 506, 883 $873, 936 Total 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 C 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 Drnit Next a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horízontal 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 Cc 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 Required B > Required A Required B Required C Show the purchase in a horizontal statements model like the following one: (Do not round intermediate calculations. Round your final answers to nearest whol column, use the Initials OA to designate operating activity, TA for investing activity, FA for financing activity, NC for net change in cash and NA for not affected account balances with o minus sign.) PITNEY CO. Statements Model Assets Equity Revenue Expenses -Net Income Cash Flows Cash Land Building Furn. < Required A Required C> Required A Required B Required C Prepare the general journal entry to record the purchase. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record purchase of land, building and furniture for cash. Note: Enter debits before credits Event General Journal Debit Credit 1.
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Answer rating: 100% (QA)
a Allocated Cost Land 93636 Building 234090 Furniture 4... View the full answer
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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