Homework Answers
Assets are to be recorded at thier value which will give there value approximately to the realisable value. Appraised value is given by a proper valuer which gives the realisable value of the asset. Also if there is a substantial difference then it is advisable to be recorded at the revised value.
In this case as the cost of asset is 7,000 , appraised value is 26,000 . As there is a substantial difference, therefore it should be recorded at 26,000.
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ASAP
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ASAP
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