Exercise 10-19

Concord Company exchanged equipment used in its manufacturing operations plus $3,060in cash for similar equipment used in the operations of Marigold Company. The following information pertains to the exchange.

Concord company eiodianged equipment used in ii: manuraepurinp poemliona plus $3,050 in cash lor similar Equipment used in the ppeiaiipns pr Marigold Company. The following infarmalun pertains to the eiodiange. Mali El. Iii-dd Ila. Equipment (mat) 320,560 920,550 Accumulated deprecialnn 19,300 10,200 Fair value at equipment 12,750 15,010 rash given up 3,050 prepare me juumal Entries po record the emianpe on the banks or palm campani. Agume that me umange iade commercial subshnne. (cl-edit aoceunt (may are automatically indented wnen anieunt is entered. no not indent mnullly. unn entry in required, select "No Entry" for the account [mas and enter 9 for me ale-muster.) \"TI-\"w H H Elm-ung: H H m prepare the sauna: entries be mean: the enchange an the bucks afhol :Dmpanl. Assume than: the exchange has commercial subslame. (audit mu: an\" arc mrmmmm mm mm.- mama. Do not lads"! mun-y. mm nah-y is who} met "Na Fab-y" for Me mun! "ea and GIMP far \"In Emulate.) \"Tl-\"m m u