Question 4 Which of the following is a limitation of the statement of financial position? OA Evaluate capital structure. OB Valuation of items at historical cost OC Assess future cash flows. OD. Compute rates of return. 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 $4,420.000 The fair value of $2,170,000 Which of the following journal cotries 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. Fiquipment 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