Question
29 Not yet answered Points out of 2.50 Flag question Hardin Company exchanged used printers with Arlington Corporation and received $120,000 in cash and used
29 Not yet answered Points out of 2.50 Flag question Hardin Company exchanged used printers with Arlington Corporation and received $120,000 in cash and used computers with a fair value of $360,000. These printers had book value of $450,000 on Hardin's book and currently have a fair value of $480,000. The transaction has commercial substance. How much gain should Hardin recognize on this exchange, and at what amount should the acquired computer be recorded, respectively? Select one: a. $0 and $330,000 b. $1,537 and $221,537 c. $30,000 and $360,000 d. $120,000 and $450,000
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