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What will result in silvertone limited recording a

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Reference no: EM132618063

Problem 1: Silvertone Limited acquired the net assets of Blue Limited. Silvertone Limited provided an item of equipment as part of the consideration. The fair value of the equipment was $26 000. It cost $40 000 and had a carrying amount of $24 000. This will result in Silvertone Limited recording a:

Select one:

Option a. DR Loss on sale $2 000

Option b. CR Loss on sale $2 000

Option c. CR Gain on sale $2 000

Option d. DR Gain on sale $2 000.

Option e. CR Asset revaluation surplus $2 000.

Reference no: EM132618063

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