Assume the same facts as in Exercise 10-20, except that the book value of the press traded

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Assume the same facts as in Exercise 10-20, except that the book value of the press traded in is $128,500.
(a) What is the amount of cash given?
(b) What is the cost of the new press for financial reporting purposes?

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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Question Posted: Nov 07, 2012 07:01 AM

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Assume the same facts as in Exercise 10-20, except that the book value of the press traded

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a 205000 315000 110000 b 315000 The new ...View the full answer

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