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owns equipment with market value of $4,000,000 (F Ltd) owns a building with market value of and cost of $4,400,000. $4,800,000 and cost of Co

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owns equipment with market value of $4,000,000 (F Ltd) owns a building with market value of and cost of $4,400,000. $4,800,000 and cost of Co Ltd) David Ltd Future Ltd 4,200,000 David Ltd $40,000 a cash and Future Ltd exchange for both the equipment amount of $140,000 th their assets . The accumulated and building. David Ltd gives the exchange depreciation Future is Ltd b) Suppose that record the assuming the Future Ltd. does not transaction in the books exchange to considered to pay of lack David Ltd $140,000. Now hard Ltd and Future Ltd, commercial substance

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