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market value?

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8. Lucky Lee, a video-game store in New York city, purchases a game machine directly from Taiwan for $30,000. In the U.S., the same machine will probably cost at least $36,000. Pick the most appropriate accounting action for Lucky Lee;Record the machine at $36,000;Record the machine at $30,000;Record the machine for [($30,000+$36,000)/2] = $33,000;Have the machine examined by an independent appraiser and record it at the appraised value

 

Paper#81870 | Written in 18-Jul-2015

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