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Question 2 On 1 August 2018, Limau Berhad exchanged productive assets with Orange Berhad. The following facts pertain to these assets. Asset A Asset B
Question 2 On 1" August 2018, Limau Berhad exchanged productive assets with Orange Berhad. The following facts pertain to these assets. Asset A Asset B (Limau) (Orange) Original Cost RM96,000 RM110.000 Accumulated depreciation 40.000 47,000 Fair value 60,000 75,000 Required: Assuming the exchange of Asset A and B has commercial substance and Limau paid Orange RM15,000, record the exchange in the books of Limau and Orange Berhad. (6 marks)
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