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General Accounting Discussions: Aquisition and Valuation of Property, Plant and equipment

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    • CommentAuthorPecantruck
    • CommentTimeMar 12th 2008
     
    How should companies account for an old building on site of newly proposed buildings?
  2.  
    If the land is purchased with the inention of putting up new building, the cost of razing an old building (to make way for the new one) is a cost of the land. Any money received from the salvage of the old building reduces the demolition cost, and thus the land cost.

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