Journal entry for a company owned land and a building

Reference no: EM13156151

At November 30 the company owned land and a building. The land cost 24, 000 and now has a value of 32,000. The building's cost of 88,800 is near its current value if sold. The building has an estimated life of 40 years with no residual value. It is currently 10 years old.

Create a journal entry if there is one, If not explain why?

Reference no: EM13156151

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Journal entry for a company owned land and a building : At November 30 the company owned land and a building. The land cost 24, 000 and now has a value of 32,000. The building's cost of 88,800 is near its current value if sold. The building has an estimated life of 40 years with no residual value. It i..

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