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The ace company has five plants nationwide that cost $200 million. The current market value of the plants is $600 million. The plants will be recorded and reported as assets at

Respuesta :

The assets need to be recorded in the cost of nationwide that is the cost of five plants amounting to $200 million.

How much should be reported as assets?

Exchange is a method of obtaining assets on rare occasions. Because the company's sacrifice is measured by the fair value (FV) of the property sacrificed, the reported cost depends on the FV of the item surrendered.

If the value of the asset decided to give up cannot be ascertained, the object received is just recorded at its own fair value. 

Therefore, the plants will be recorded as assets for $200 million.

Check out the link below to learn more about assets recording;

https://brainly.com/question/13285208

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