Question
Sunlands Delivery Company and Overlands Express Delivery exchanged delivery trucks on January 1, 2019. Sunlands truck cost $22,000. It has accumulated depreciation of $14,500 and
Sunlands Delivery Company and Overlands Express Delivery exchanged delivery trucks on January 1, 2019. Sunlands truck cost $22,000. It has accumulated depreciation of $14,500 and a fair value of $3,300. Overlands truck cost $10,000. It has accumulated depreciation of $8,000 and a fair value of $3,300. The transaction has commercial substance.
a.) Journalize the exchange for Sunlands Delivery Company.
b.) Journalize the exchange for Overlands Express Delivery.
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Cost Benefit Analysis Concepts And Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th Edition
1108401295, 978-1108401296
