Question
Equipment that cost $ 654000 and has accumulated depreciation of $ 284000 is exchanged for equipment with a fair value of $ 480000 and $
Equipment that cost $654000and has accumulated depreciation of $284000is exchanged for equipment with a fair value of $480000and $120000cash is received. The exchange lacked commercial substance.
The gain to be recognized from the exchange is4
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Financial Statement Fraud Prevention And Detection
Authors: Zabihollah Rezaee, Richard Riley
2nd Edition
0470543205, 9780470543207
