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A company purchased equipment valued at $259,000. It traded in old equipment for a $143,000 trade-in allowance and the company paid $116,000 cash with
A company purchased equipment valued at $259,000. It traded in old equipment for a $143,000 trade-in allowance and the company paid $116,000 cash with the trade-in. The old equipment cost $230,000 and had accumulated depreciation of $92,000. This transaction has commercial substance. What is the recorded value of the new equipment?
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Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
