Kiko group of companies exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021. Listed selling price of the car-90,000 FV of the computer system-86,000 Carrying amount of the car-60,000 If Kiko group of companies recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction
Kiko group of companies exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021. Listed selling price of the car-90,000 FV of the computer system-86,000 Carrying amount of the car-60,000 If Kiko group of companies recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction
Chapter11: Long-term Assets
Section: Chapter Questions
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Kiko group of companies exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021.
Listed selling price of the car-90,000
FV of the computer system-86,000
Carrying amount of the car-60,000
If Kiko group of companies recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction
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