Pool Inc. and Noodle Inc. each own 50% of Slide Inc. Pool also owns 100% of Board Inc. During the year, Slide sells a delivery truck to Board for $8,000. Similar trucks were selling for $10,000, and the truck had a book value of $6,000. Slide reports under ASPE. At what amount should Slide derecognize the truck?

Answer rating: 100% (QA)

Since Slide Inc reports under ASPE Accounting Standards for Private Enterprises the sale of the deli... View the full answer