{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T07:07:40-04:00", "answer_date": "2024-05-27 07:07:40", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1784609", "url": "\/study-help\/questions\/-1784609", "question_creation_date_js": "2024-05-27T07:07:40-04:00", "question_creation_date": "May 27, 2024 07:07 AM", "meta_title": "[Solved] Kingbird Company traded a used welding ma | SolutionInn", "meta_description": "Answer of - Kingbird Company traded a used welding machine ( cost $ 1 2 , 7 8 0 , accumulated depreciation $ 4 , 2 6 0 ) for offic | SolutionInn", "meta_keywords": "kingbird,company,traded,welding,machine,cost,$,1,2,7,8,accumulated", "question_title_h1": "Kingbird Company traded a used welding machine ( cost $ 1 2 , 7 8 0 , accumulated depreciation $ 4 , 2 6 0", "question_title": "Kingbird Company traded a used welding machine ( cost $ 1 2", "question_title_for_js_snippet": "Kingbird Company traded a used welding machine ( cost $ 1 2 , 7 8 0 , accumulated depreciation $ 4 , 2 6 0 ) for office equipment with an estimated fair value of $ 7 , 1 0 0 Kingbird also paid $ 4 , 2 6 0 cash in the transaction Prepare the journal entry to record the exchange ( The exchange has commercial substance )", "question_description": "
Kingbird Company traded a used welding machine <\/span>(<\/mi><\/mrow><\/math>cost $<\/span>1<\/mn>2<\/mn>,<\/mo>7<\/mn>8<\/mn>0<\/mn>,<\/mo><\/mrow><\/math> accumulated depreciation $<\/span>4<\/mn>,<\/mo>2<\/mn>6<\/mn>0<\/mn>)<\/mi><\/mrow><\/math> for office equipment with an estimated fair value of $<\/span>7<\/mn>,<\/mo>1<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math> Kingbird also paid $<\/span>4<\/mn>,<\/mo>2<\/mn>6<\/mn>0<\/mn><\/mrow><\/math> cash in the transaction.<\/span> <\/div>
<\/div>
Prepare the journal entry to record the exchange. <\/span>(<\/mi><\/mrow><\/math>The exchange has commercial substance.<\/span>)<\/mi><\/mrow><\/math> <\/div><\/span> <\/div><\/div>", "transcribed_text": "", "related_book": { "title": "Intermediate Accounting", "isbn": "978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736", "edition": "10th Canadian Edition, Volume 1", "authors": "Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young, ", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/528.jpg", "uri": "\/textbooks\/intermediate-accounting-10th-canadian-edition-volume-1-528", "see_more_uri": "\/textbooks\/business-trading-3391" }, "free_related_book": { "isbn": "979-8636376477", "uri": "\/textbooks\/find-your-values-find-yourself-the-simple-3-step-method-to-discover-your-values-and-bring-clarity-to-your-decision-making-1st-edition-979-8636376477-156641", "name": "Find Your Values Find Yourself The Simple 3 Step Method To Discover Your Values And Bring Clarity To Your Decision Making", "edition": "1st Edition" }, "question_posted": "2024-05-27 07:07:40", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/help-on-this-thanks-2022sp-cs234-computer-science-ii-1-388863", "description": "Help on this. thanks 2022SP CS234 Computer Science II 1. 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