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Equipment that cost $55,000 and has accumulated depreciation of $25,000 is for similar equipment with a fair value of $40,000 and $10,000 cashi is received.
Equipment that cost $55,000 and has accumulated depreciation of $25,000 is for similar equipment with a fair value of $40,000 and $10,000 cashi is received. The gain to be recongnized from the exchange is
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
ISBN: 978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
