PRINTER VERSION BACK NEXT Concept for Analysis 10-4 (Part Level Submission) You have two clients that are considering trading machinery with each other. Although the machines are different from each other, you believe that an assessment of expected cash flows on the exchanged assets will indicate the exchange lacks commercial substance. Your dients would prefer that the exchange be deemed to have commercial substance to allow them to record Gains. Here are the facts: Original cost Accumulated depreciation Client A $102,700 44.000 87,100 (28,400) Client B $160,000 83.300 115,500 28,400 Cash received (paid) (a) Your answer has been saved and sent for grading. See Gradebook for score details Record the trade-in on lata's books asuming the exchange has commercial substance (ne entry is required select "No Entry" for Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debat Credit 115.500 Accumulated Depreciation 44,000 28.400 Machinery 102,700 Gain on Disposal of 28.400 Click If you would like to show Work for this questioni Open Show Work PRINTER VERSION BACK NEXT Record the trade-in on Client A's books assuming the exchange lacks commercial substance. (If no entry is required, select "No Entry" for the account titles and enter Credit account titles are automatically indented when amount is entered. Do not indent manually.) for the amounts. Account Titles and Explanation Debit Credit Machinery 87,100 Accumulated Depreciation 44,000 28,400 Machinery 102,700 Click If you would like to show Work for this question Open Show Work SHOW LIST OP ACCOUNTS Attemptsi 1 of 1 used (d) Record the entry on Client's books assuming the exchange has commercial substance. (I no entry is required, select "No Entry for the account cities and enter for the amounts. Credor account titles are automatically Indented when amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Machinery 87,100 Accumulated Depreciation 83,300 Cash 28.400 160.000 Machinery Gain on Disposal of Machir Click If you would like to Show Work for this questions Open Show Work (e) Record the entry on Client's books assuming the exchange lacks commercial substance. (Round interntediate calculations to 5 decimal places, eg 1.25124 and final answer to o decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Machinery 48,300 Cash 28.400 Accumulated Depreciation 63,300 Gain on Dispos of Mach Machinery 160,000 Click if you would like to show Work for this questioni Open Show Work