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Why depreciation recorded on company accounting record

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Reference no: EM132463578

Assume that you are the accountant for Computer Consultants. Prior to this year, Computer Consultants operated out of a leased office. However, the company purchased its own office building this year. The building is in an area where real estate values have been increasing an average of 6 percent per year.

Question Problem 1: The owner of Computer Consultants has asked why you recorded depreciation on the building if real estate values are appreciating. respond to the owner explaining why depreciation must be recorded on the company's accounting records.

Reference no: EM132463578

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