Question
In 2015, Malawi Inc. exchanged equipment for two delivery trucks. The equipment had been purchased for $95,000 ten years ago and has since been fully
In 2015, Malawi Inc. exchanged equipment for two delivery trucks. The equipment had been purchased for $95,000 ten years ago and has since been fully depreciated. While the equipment was recently appraised at $22,000, a reliable valuation for the trucks was not available. This transaction has commercial substance.
Instructions
Prepare the journal entry to record the exchange.
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Fundamentals Of Accounting
Authors: Claudia Gilbertson
10th Edition
1111581169, 978-1111581169
