Suppose a firm buys a piece of land with a building for ($ 100,000). The firm's accountant
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Suppose a firm buys a piece of land with a building for \(\$ 100,000\). The firm's accountant wants to divide the cost between the land and building for the firm's financial records. Why?
a. Land is always more expensive than buildings.
b. Land will not be depreciated but the building will be depreciated, so the accountant needs two different amounts.
c. Land will appreciate and its recorded cost will increase over time, whereas the building will be depreciated.
d. Depreciation expense will be separated from accumulated depreciation after the first year.
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