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9. Your company exchanged a patent and paid an additional $50,000 in cash for a new building. The patent cost $24,000, had a book value
9. Your company exchanged a patent and paid an additional $50,000 in cash for a new building. The patent cost $24,000, had a book value of $10,000, and a fair market value of $120,000. What amount should you record as the cost of the new building? 10. When should interest be considered part of the cost of a fixed asset
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