Ace Computer Company wrote down a line of laptop computers (25 units costing $400 each) at their
Fantastic news! We've Found the answer you've been seeking!
Question:
Ace Computer Company wrote down a line of laptop computers (25 units costing $400 each) at their net realizable value (NRV) of $200 each. A new use for the computers was recently found and the value increased to $600 each. Before recording the value reversal, 15 computers were sold.
What does Ace need to do to record the reversal in the NRV?
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
8th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date: