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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
النسخة 14الرقم المعياري الدولي: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
النسخة 14الرقم المعياري الدولي: 978-1305653535 تمرين 63
Asset traded for similar asset
A printing press priced at a fair market value of $275,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the trade-in allowance and the price of the new press.
a Assuming that the trade-in allowance is $90,000, what is the amount of cash given?
b. Assuming that the book value of the press traded in is $68,000, what is the gain or loss on the exchange?
A printing press priced at a fair market value of $275,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the trade-in allowance and the price of the new press.
a Assuming that the trade-in allowance is $90,000, what is the amount of cash given?
b. Assuming that the book value of the press traded in is $68,000, what is the gain or loss on the exchange?
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a. Amount of cash gi...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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