the following two independent questions: Alex owns a roofing company and buys a computer for personal usage. He sometimes uses the computer for the company, but his children are the primary users of the computer, although he does use it for his roofing company occasionally. Can the computer be recorded as an asset in the accounting records of Alex's roofing practice? Explain why or why not? Jason Thompson purchased an office building 10 years ago for $780,000. The building was just appraised at $1.25 million. What value should be used for the building in Jason's accounting records? Discuss the accounting principle you would use as support for your