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Ivanhoe Corporatlon exchanged equipment used in Its manufacturing operations for equlpment used in the operations of Sharnrock Lid The following information pertains to the exchange:
Ivanhoe Corporatlon exchanged equipment used in Its manufacturing operations for equlpment used in the operations of Sharnrock Lid The following information pertains to the exchange: Both companies agreed that the exchange did not have commercial substance Prepare the necessary journal entries to record the asset exchange on the books or both companies. (Credit acoount titles are automatically indented when the amount bs entered. Do not indent manually. If no entry is required, select "No Entry" for the occourt tities and enter 0 for the amounts. List all debit entries before credit entries.) Ivanhoe Corporation: Shanrock Ltd
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