Question
SB traded in printing press A with a book value of $5,200 and a market value of $6,000 for printing press B that had a
SB traded in printing press A with a book value of $5,200 and a market value of $6,000 for printing press B that had a market value of $8,801. Press B was both larger and faster than the one exchanged and was quoted at $10,000. SB also paid $2,800 cash boot. What should SB record as the cost of press B?
Multiple Choice
$6,000
$8,000
$8,800
$10,000
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
