Solved: Purchasing related to real estate-land and building, Accounting Basics

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Purchasing related to real estate-land and building

Problem:

Bulk purchases is usually related to real estate, Land and Building. The purchaser pays a price for both. It is important to breakdown the price since Land is not depreciable, but it needs to be reported on the Balance Sheet.

I am certain that the calculation between land / building is of utmost importance. Are there other methods you use, such as appraisals?

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Accounting Basics: Purchasing related to real estate-land and building

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