Company constructed equipment to be used in operations. Actual payments were 80000 JD. Actual interest was 3300

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Company constructed equipment to be used in operations. Actual payments were 80000 JD. Actual interest was 3300 JD and avoidable interest was 3400 JD. The estimated useful life was 10 years and uses SLN for depreciation. After 4 years the company exchange its equipment for similar one. The fair value of old equipment is 48400 JD and paid 2000 cash, Compute result of exchange (has commercial substance). Select one: O a. 1520 loss O b. 1520 gains O c. 1640 loss O d. 1640 gains

Posted Date: Jun 21, 2024 11:08 PM

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Company constructed equipment to be used in operations. Actual payments were 80000 JD. Actual interest was 3300

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