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MrPastorious

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MrPastorious

Re: Russian-Trader post# 28761

Monday, 11/13/2006 8:01:20 AM

Monday, November 13, 2006 8:01:20 AM

Post# of 79921
Obviously you know nothing about how to account for an acquisition.
BTW, your entire argument is based on you selling the "car" at a profit. PBLS has not sold any of the "cars" they havepreviously bought.
Answer. You carry the car on your books at 10k. when it is sold, you book a gain of 8k. if it appraises at 18k, and you do not sell it, you do nothing to your books. It is still carried at 10k (less accumulated depreciation).
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