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Sheridan Company traded machinery with a book value of $1146000 and a fair value of $1910000. It received in exchange from Carla Vista Co. a
Sheridan Company traded machinery with a book value of $1146000 and a fair value of $1910000. It received in exchange from Carla Vista Co. a machine with a fair value of $1719000 and cash of $191000. Carla Vista's machine has a book value of $1856520. What amount of gain should Sheridan recognize on the exchange (assuming lack of commercial substance)? O $-0- O $764000 O $76400 O $191000 
Sheridan Company traded machinery with a book value of $1146000 and a fair value of $1910000. It received in exchange from Carla Vista Co. a machine with a fair value of $1719000 and cash of $191000. Carla Vista's machine has a book value of $1856520. What amount of gain should Sheridan recognize on the exchange (assuming lack of commercial substance)? $0$764000$76400$191000
Sheridan Company traded machinery with a book value of $1146000 and a fair value of $1910000. It received in exchange from Carla Vista Co. a machine with a fair value of $1719000 and cash of $191000. Carla Vista's machine has a book value of $1856520. What amount of gain should Sheridan recognize on the exchange (assuming lack of commercial substance)? O $-0- O $764000 O $76400 O $191000
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