Blythe Company has equipment with an original cost of $150,000 and accumulated depreciation of $40,000.What is the current fair value of the equipment?

Question

Quizplus · Accepted Answer

The current fair value of the equipment cannot be determined solely from the original cost and accumulated depreciation, as fair value would require an assessment of the market or an appraisal value, which is not provided in the information given.

Blythe Company Has Equipment with an Original Cost of $150,000