Framework

A machine was acquired in exchange of an old machine and ` 20,000 paid in cash. The carrying amount of old machine was ` 2,00,000 whereas its fair value was ` 1,50,000 on the date of exchange. The historical cost of the new machine will be taken as (a) ` 2,00,000 (b) ` 1,70,000 (c) ` 2,20,000 How is historical cost came 170000 ?

Sushmita Chowdhury

CA Inter

★ 0

31-Dec-22 22:07

564