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Jamison Company purchased the assets of Booker Company at an auction for $1,400,000.An independent appraisal of the fair value of the assets is listed below:
-Siegle Company exchanged 400 shares of Guinn Company ordinary shares, which Siegle was holding as an investment, for equipment from Mayo Company.The Guinn Company ordinary shares, which had been purchased by Siegle for $50 per share, had a quoted market value of $58 per share at the date of exchange.The equipment had a recorded amount on Mayo's books of $21,000.What journal entry should Siegle make to record this exchange?

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Jamison Company purchased the assets of Booker Company at an auction for $1,400,000.An independent appraisal of the fair value of the assets is listed below: 
-Siegle Company exchanged 400 shares of Guinn Company ordinary shares, which Siegle was holding as an investment, for equipment from Mayo Company.The Guinn Company ordinary shares, which had been purchased by Siegle for $50 per share, had a quoted market value of $58 per share at the date of exchange.The equipment had a recorded amount on Mayo's books of $21,000.What journal entry should Siegle make to record this exchange?

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Jamison Company purchased the assets of Booker Company at an auction for $1,400,000.An independent appraisal of the fair value of the assets is listed below: 
-Siegle Company exchanged 400 shares of Guinn Company ordinary shares, which Siegle was holding as an investment, for equipment from Mayo Company.The Guinn Company ordinary shares, which had been purchased by Siegle for $50 per share, had a quoted market value of $58 per share at the date of exchange.The equipment had a recorded amount on Mayo's books of $21,000.What journal entry should Siegle make to record this exchange?

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