Question
A company exchanged old equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $80,900 and
A company exchanged old equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $80,900 and $90,300, respectively.
Assuming that the exchange has commercial substance, the company would record a gain(loss) of:
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Cost Accounting A Managerial Emphasis
Authors: Charles T Horngren
5th Edition
0131796712, 978-0131796713
