If a company purchases a property and it's a non-arms lengths transaction, for $0 according to the tax assessors office how is it recorded on the balance sheet. Will the assets value be recorded at 0?
I'm trying to get an idea of what the BV of a company should be assuming current real estate values but one of the properties was bought in 1960 for $0. How would this be recorded on the balance sheet now. Thank You.
I'm trying to get an idea of what the BV of a company should be assuming current real estate values but one of the properties was bought in 1960 for $0. How would this be recorded on the balance sheet now. Thank You.