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Wildhorse Company exchanged equipment that cost $66700 and has accumulated depreciation of $32400 for equipment with a fair value of $50600 and received $13400
Wildhorse Company exchanged equipment that cost $66700 and has accumulated depreciation of $32400 for equipment with a fair value of $50600 and received $13400 cash. The exchange lacked commercial substance. The gain to be recognized from the exchange is O $18200 gain. $6218 gain. $23000 gain. $4800 gain.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
