Question

Company A gives up a noncurrent asset with a carrying value of $ 12,000 and a fair value of $ 20,000 in exchange for another noncurrent asset owned by Company B. Company B’s asset has a carrying value of $ 17,000 and a fair value of $ 26,000. No cash is exchanged. here is no commercial substance to the transaction. What value should Company A assign to the new asset?



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  • CreatedAugust 20, 2015
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