Question
. Camp, Inc. exchanged an old truck that cost $30,000 (now 50% depreciated) with a current fair value of $18,000 for equipment with an appraised
. Camp, Inc. exchanged an old truck that cost $30,000 (now 50% depreciated) with a current fair value of $18,000 for equipment with an appraised value of $25,000. In addition, Camp paid cash of $6,000. At what value should Camp record the new equipment?
a. $25,000
b. $24,000
c. $22,000
d. $21,000
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The Operational Auditing Handbook Auditing Business And IT Processes
Authors: Andrew Chambers, Graham Rand
2nd Edition
0470744766, 978-0470744765
