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provide the journal entry 1. Star company trades an electron microscope for the new optical equipment a similar asset and receives $30,000 cash as well.
provide the journal entry
1. Star company trades an electron microscope for the new optical equipment a similar asset and receives $30,000 cash as well. The new optical equipment has the same remaining useful life of the old electron microscope therefore this is considered not to have commercial substance. the old microscope had an original cost of $200,000 and has accumulated amortization of $80,000 at the time of the trade. the old microscope has a fair market value of $160,000 at the in time.
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