Solved: Ecklund company purchased land and a building on january 1, Accounting Basics

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Ecklund company purchased land and a building on january 1

1. Ecklund Company purchased land and a building on January 1, 2010. Management's best estimate of the value of the land was $100,000 and of the building $200,000. But management told the accounting department to record the land at $220,000 and the building at $80,000. The building is being depreciated on a straight-line basis over 20 years with no salvage value. Why do you suppose management requested this accounting treatment? Is it ethical?

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Accounting Basics: Ecklund company purchased land and a building on january 1

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