Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Moving to another spustion will have the respon mint Questions In an exchange with commercial substance, Alpha Co. traded equipment with a cost of $7,700,000

image text in transcribed
image text in transcribed
image text in transcribed
Moving to another spustion will have the respon mint Questions In an exchange with commercial substance, Alpha Co. traded equipment with a cost of $7,700,000 and book value of $2.500,000 and gave $4.420,000 ca The old mache bad fair value of $2,170,000 Which of the following journal entries would Alpha Co. make to record the change? OA Equipment Loss on Disposal 6,590,000 330,000 Accumulated Depreciation 5,200,000 Equipment Cash 7,700,000 4,420,000 Accumulated Depreciation. Equipment 7,700,000 Cash 4,420,000 Equipment 2,500,000 Cash 4,420,000 Accumulated Depreciation. 12,120,000 Equipment OB Equipment. OC. Equipment OD. Equipment 6,590,000 5,530,000 6,920,000 6,590,000 5,530,000 & Msing for anusher quarchon will save the responia Questions p In an exchange with commercial substance, Alpha Co. traded equipment with a cost of $7,700,000 and book value of $2.500,000 and gave $4,420.000 cash. The o fair value of $2,170,000. Which of the following journal entries would Alpha Co make to record the exchange? OA Equipment Loss on Duposal 6,590,000 330,000 Accumulated Depreciation. 5,200,000 7,700,000 4,420,000 7,700,000 4,420,000 2,500,000 4,420,000 12,120,000 Equipment Cash Accumulated Depreciation.. Equipment Cash Equipment Cash Accumulated Depreciation. Equipment OFL Equipment OC. Equipment OD Equipment 6,590,000 5,530,000 6,920,000 6,590,000 5,530,000 CEN Moving to another question will save this response. Question 5 points In an exchange with commercial substance, Alpha Co. traded equipment with a cost of $7,700,000 and book value of $2,500,000 and gave $4,420,000 cash. The old macke bada fair value of $2,170,000. Which of the following journal entries would Alpha Co make to record the exchange OA Equipment Loss on Disposal 6,590,000 330,000 Accumulated Depreciation 5,200,000 Equipment Cash 7,700,000 4,420,000 Accumulated Depreciation. Equipment 7,700,000 Cash 4,420,000 2,500,000 Equipment 4,420,000 Cash Accumulated Depreciation. 12,120,000 Equipment OBL Equipment OC Equipment OD. Equipment 6,590,000 5,530,000 6.920,000 6,590,000 5,530,000 hp

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions