alleryStart learning →A machine with book value Rs 2,00,000 and fair value Rs 3,00,000 is swapped for shares. Cost of the shares?
ARs 2,00,000
BRs 3,00,000
CRs 5,00,000
DRs 1,00,000
Answer & Solution
Correct answer: B. Rs 3,00,000
An investment acquired in exchange is recorded at the fair value of the asset given up, which is 3,00,000.
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