Question
The Bacon Company acquired new machinery with a price of $14,530 by trading in similar old machinery and paying $13,077.00. The old machinery originally cost
The Bacon Company acquired new machinery with a price of $14,530 by trading in similar old machinery and paying $13,077.00. The old machinery originally cost $8,315 and had accumulated depreciation of $6,652.00. In recording this transaction, what should Bacon Company record?
a.a gain of $210.00
b.the new machinery at $12,867.00
c.a loss of $210.00
d.the new machinery at $13,077.00
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Intermediate Accounting 2007 FASB Update Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
12th Edition
9780470128763
