Question
A company bought new heating system for $130,000 and was given a trade-in of $87,000 on an old heating system, so the company paid $43,000
A company bought new heating system for $130,000 and was given a trade-in of $87,000 on an old heating system, so the company paid $43,000 cash with the trade-in. The old system had an original cost of $120,000 and accumulated depreciation of $48,000. If the transaction has commercial substance, the company should record the new heating system at:
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Accounting For Decision Making And Control
Authors: Jerold Zimmerman
5th Edition
0072975865, 978-0072975864
