Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 18

Helping Hand NFP is a private not-for-profit organization that has equipment with a book value of $1.1 million but a fair value of $1.4 million. Fancy Fingers is a private not-forprofit organization that has equipment with a book value of $1 million and a fair value of $1.2 million. If these two organizations combine, what are the possible amounts that they can report for their equipment