The following data relate to a warehouse Ben purchased one year ago: - Ben wants to...
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The following data relate to a warehouse Ben purchased one year ago: - Ben wants to sell the warehouse for at least $500,000 in the future. The sale will finance the purchase of other buildings in the future. - Ben purchased a warehouse for $390,000 eight years ago. - Warehouse sales data in the local area suggest that during the past year, the average selling price for a comparable warehouse was $415,000 - Ben has long-term debt of $745,000, of which $268,000 relates to the purchase of the warehouse. What is the FAIR VALUE of the warehouse? $415,000 $500,000 $745,000 $390,000 The following data relate to a warehouse Ben purchased one year ago: - Ben wants to sell the warehouse for at least $500,000 in the future. The sale will finance the purchase of other buildings in the future. - Ben purchased a warehouse for $390,000 eight years ago. - Warehouse sales data in the local area suggest that during the past year, the average selling price for a comparable warehouse was $415,000 - Ben has long-term debt of $745,000, of which $268,000 relates to the purchase of the warehouse. What is the FAIR VALUE of the warehouse? $415,000 $500,000 $745,000 $390,000
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The detailed answer for the above question is provided below The fair value of the warehouse is 415... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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