Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 3

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