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Exercise 10-19 (Part Level Submission) Sandhill Company exchanged equipment used in its manufacturing operations plus $3,840 in cash for similar equipment used in the operations

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Exercise 10-19 (Part Level Submission) Sandhill Company exchanged equipment used in its manufacturing operations plus $3,840 in cash for similar equipment used in the operations of Teal Company. The following information pertains to the exchange Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up Sandhill Co. $35,840 24,320 16,000 3,840 Teal Co. $35,840 12,800 19,840

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