What amount should be recognized in the balance sheet

Reference no: EM133659514

Question: BLIC owns manufacturing facilities and equipment with a net book value of $20 million. RONIN's valuation team suggests a fair value of $26 million due to recent technological upgrades. RONIN is very interested in the equipment since it believes it can be used for RONIN products as well as BLIC products. The equipment is more advanced technologically. Recent industry catalogues show a value for the equipment of approximately $30 million.

Additional comments: What amount (20 mil, 26 mil or 30 mil) should be recognized in the balance sheet under ifrs 3? Explain

Reference no: EM133659514

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