O'Briens Construction Ltd exchanged equipment that had a book value of $43073 for a truck that had a book value (in the
Posted: Mon May 02, 2022 6:36 am
O'Briens Construction Ltd exchanged equipment that had a book
value of $43073 for a truck that had a book value (in the other
entity's books) of $31590. The fair value of the equipment is
$44903. Further cost incurred to prepare the truck for use by
O'Briens was $6324 for delivery and $2130 for registration. What is
the acquisition cost of the truck?
A.
51227
B.
37914
C.
53357
D.
51527
value of $43073 for a truck that had a book value (in the other
entity's books) of $31590. The fair value of the equipment is
$44903. Further cost incurred to prepare the truck for use by
O'Briens was $6324 for delivery and $2130 for registration. What is
the acquisition cost of the truck?
A.
51227
B.
37914
C.
53357
D.
51527