Hisham Ltd acquired a truck for 75 000 m 2007. In 2009, the company acquired two pieces
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Hisham Ltd acquired a truck for €75 000 m 2007. In 2009, the company acquired two pieces of computer equipment from Lanzhou Electronics that had a fair value of €72 000.
Hisham worked out an arrangement whereby Lanzhou would take the truck in exchange for the computer equipment with no cash changing hands. The truck had a market value of €68 000.
Accumulated ’ depreciation on the truck was €25 000 at the time of the exchange. How much revenue should Lanzhou recognize?LO1.
a. €75 000
b. €72 000
c. €68 000
d. €50 000
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