View Policies

Current Attempt in Progress

Carla Vista Company exchanged equipment that cost $$68900$ and has accumulated depreciation of $$31700$ for equipment with a fair value of $$49700$ and received $$12300$ cash. The exchange lacked commercial substance. The gain to be recognized from the exchange is

$$23700$ gain.

$$4920$ gain.

$$18000$ gain.

$$5700$ gain.