1. Why is it important to account separately for the cost of land and building even when the two assets are purchased together? 2. How should the residual value of an operating asset be treated when...

1. Why is it important to account separately for the cost of land and building even when the two assets are purchased together?

2. How should the residual value of an operating asset be treated when the straightline method is used? How should it be treated when the double-declining-balance method is used?