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What is the acquisition cost of the truck

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Question - ABC Ltd exchanged a car that had a book value of $50,000 for a truck that had a book value (in the other entity's books) of $30,000. The fair value of the car is $48,000. Further cost incurred to prepare the truck for use by ABC Ltd was $2,800 for delivery and $900 for registration. What is the acquisition cost of the truck?

Reference no: EM133174632

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