Question
Purchased a parcel of land with a building on it for $900,000 cash. The building, which will be used in operations, has an estimated useful
Purchased a parcel of land with a building on it for $900,000 cash. The building, which will be used in operations, has an estimated useful life of 25 years and a salvage value of $60,000. The assessed valuations for property tax purposes show the land at $80,000 and the building at $720,000.
How much was the purchase for land?
How much was the purchase for building?
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The Auditor An Instructional Novella
Authors: James K. Loebbecke
1st Edition
0130799769, 978-0130799760
