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What amount should dinga record the asset it receives

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Reference no: EM132420444

Dinga Corp. exchanged similar pieces of equipment with Elongo Corp. No cash was exchanged. Since this exchange will not significantly change the economic position of either company, this transaction lacks commercial substance. At this time, the net book value of Dinga's asset is $36,000, while the net book value of Elongo's asset on their books is $33,300. However, it has been reliably determined that the fair value of Dinga's asset is $36,900, while the fair value of Elongo's asset is $34,200. Given these facts, at what amount should Dinga record the asset it receives from Elongo?

Reference no: EM132420444

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