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Exercise 9-23 Exchanging PPE LO6 On November 3, 2020. Gamez 2 Go Media exchanged an old computer for a new computer that had a list
Exercise 9-23 Exchanging PPE LO6 On November 3, 2020. Gamez 2 Go Media exchanged an old computer for a new computer that had a list price of $204,000. The original cost of the old computer was $164,000 and related accumulated depreciation was $72,000 up to the date of the exchange. Gamez 2 Go Media received a trade-in allowance of $107,000 and paid the balance in cash Required: a. Record the exchange assuming the fair values are unknown View transaction list Journal entry worksheet 1 > Record the exchange of computers. Note: Enter debits before credits Date General Journal Debit Credit b. Assume that the fair value of the new asset was $181,000. Record the exchange. View transaction list Journal entry worksheet 1 Record the exchange of computers. Note: Enter debits before credits. Date General Journal Debit Credit November 03, 2020 Analysis Component: What is the dollar value that will be used to depreciate the new computer in part (b)? Dollar value
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