Krystina exchanged her office equipment for Krista's office equipment.  Krystina's office equipment cost $20,000, book value $12,000, and FMV of $13,200. Krista's office equipment cost $28,500, book value of $13,000, and FMV of $14,500. Krystina paid boot to Krista in the amount of $2,500, but it was worth it! 

At what amount should Krista record the office equipment she acquired from Krystina?

Answer rating: 100% (QA)

To determine the amount at which Krista should record the office equipment she acquired from Krystin... View the full answer