Based on the Following Information, What Is the Net Amount

question 29

Multiple Choice

Based on the following information, what is the net amount that this equipment should be reported at in the balance sheet at December 31, 2021? $$\begin{array} { | l | r | } \hline \text { Cost } & \$ 500,000 \\\hline \text { Accumulated depreciation } & 230,000 \\\hline \text { Value in use (sum of discounted cash flows) } & 250,000 \\\hline \text { Fair value } & 240,000 \\\hline \text { Disposal costs } & 10,00 \\\hline\end{array}$$

• A)$230,000
• B)$240,000
• C)$250,000
• D)$270,000

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