Owner's Valuation Part Two

[Notorious Frank White]

Equipment was purchased in a closing down sale. Price paid £15,000, but would have cost at least £25,000 if not bought in sale. owner's valuation is £25,000.
Is he right?

please help. i need an answer before tonight.

Increase your faith
"On the Day you shall see the believing men and the believing women - their light running forward before them and by their right hands. Glad tidings for you this Day! Gardens under which rivers flow, to dwell therein forever! Truly, this is the great success." [Soorah al-Hadeed (57)12]

[Ice_Blue]

if historical cost assumption is being followed then the asset wud appear in the books at £15000

Ice Blue