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Topsie co purchased land and a building for 452000 at the

Question - Topsie Co. purchased land and a building for $452,000. The land had a fair value of $55,000. The company expects the building to have a useful life of 38 years and a salvage value of $12,000. As of the end of the year, Topsie had owned the land and building for 4 years.

At the end of the year, what is the book value of the building?

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Accounting Basics: Topsie co purchased land and a building for 452000 at the

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