Jacques asks why the total cost in a basket purchase has to be allocated to the individual

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Jacques asks why the total cost in a basket purchase has to be allocated to the individual assets. For example, if we purchase land and a building for $250,000, why can we not just debit an account called Land and Building for $250,000? Answer his questions.
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Accounting Principles Part 2

ISBN: 978-1118306796

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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