Suppose you are considering the purchase of a building. The seller is asking $300,000 for a building that cost her $150,000. An appraisal shows the building has a value of $275,000. You first offer $270,000. The seller counter offers with $295,000. Finally, you and the seller agree on a price of $285,000. What dollar amount for this building is reported on your financial statements? Which accounting assumption or principle guides your answer?

Suppose you are consideing the purchase of a buliding. The sollor is asking $300,000 lor a bulding that cost her $150,000. An appraisat shows the bulding has a value of $275,000. You first offer $270,000. The sefler courfer ofters with $295,000. Finally, you and the seler agree on a price of $285,000. What dollar amount for this building is reported on your financial statements? Which accouring assumpson or principlo guides your answer? What dolar anount for tivs bulding is reported on your fnancial stalements? The dotur amount for the buldras to be reported on your financial atatements is Which accounting assumption or pronople guides your anwaen The accounting assumption or prnocie which guides the antwer is