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What amount should abc include in total assets for the truck

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Reference no: EM132508842

Point 1: ABC Company has a truck with cost of $60,000 and accumulated depreciation of $38,000. Very similar trucks regularly sell at a local vehicle auction for $20,000. However, when ABC projects the future cash flows likely to be generated by the truck, those projected future cash flows have a net present value of only $16,000.

Question 1: What amount should ABC include in total assets for the truck?

$16,000

$20,000

$22,000

None of the other answer choices is correct.

$60,000

$0

$38,000

Reference no: EM132508842

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