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when calculating the cost of land w/building on an asset and depreciation schedule; if purchased at $812,500 and fair value for the land is $72,000 and the building $828,000, do I list the cost at $812,500 which it was purchased at or does there need to be adjustment to reflect fair value?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M950556

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