Chapter 7 Example 5

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May 25, 2020 at 3:39 pm #571817

wgk
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In the question it states for Noah:

Total Assets 39,750 dinars

Why do we recalculate Total Assets again as per the answer when calculating post-acquisition reserves?? Doesn’t the Total Assets of 39,750 dinars already include the FV of the property less the two years depreciation??
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