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-   -   Journal entry purchase building for less than appraised value (https://www.askmehelpdesk.com/showthread.php?t=471138)

  • May 16, 2010, 12:51 PM
    lengksar
    journal entry purchase building for less than appraised value
    I am stuck. I need to prepare a journal entry for purchase of building. The confusing part is that there is a mortgage of 60,000 and cash of $30,000. But it says that the building is appraised at $100,000. How do I get to the $100,000?
  • May 20, 2010, 11:17 PM
    morgaine300

    The appraised value isn't relevant. It's recorded at cost.

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