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On January 2, 2020, Yadkin Corp. replaced its old boiler with a more efficient one. The following information was available on that date: $100,000 10,000
On January 2, 2020, Yadkin Corp. replaced its old boiler with a more efficient one. The following information was available on that date: $100,000 10,000 Purchase price of new boiler Carrying amount (BV) of old bofler Fair value of old boiler Cash paid to (received from the owner of the new boiler Installation cost of new boiler 20.000 122 20.000 Required: Please only write the amount: if your answer is a loss and/or a cash received put the amount in parenthesis, for example. (2.000). Assuming that the transaction lacks commercial substance 1 The total gain or loss) on the exchange is $ 1 the cash paid to (received from the owner of the new boiler Yadkin will record the new boiler at $ and recognize a gain (less) on exchange of
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