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Title: Equipment was acquired for $258,000 and has accumulated depreciation of $194,000. The business ... Post by: H3Ko on Aug 29, 2016 Equipment was acquired for $258,000 and has accumulated depreciation of $194,000. The business exchanges this equipment for new equipment. The new equipment has a market value of $202,000 and the business pays $153,000 cash. Assume the exchange has commercial substance. The exchange results in ________.
A) gain $15,000 B) loss $138,000 C) gain $138,000 D) loss $15,000 Title: Re: Equipment was acquired for $258,000 and has accumulated depreciation of $194,000. The business ... Post by: Mrgo-breed on Aug 29, 2016 Content hidden
Title: Re: Equipment was acquired for $258,000 and has accumulated depreciation of $194,000. The business ... Post by: H3Ko on Oct 12, 2016 YES! Can't believe I got this one right. Appreciate the confirmation
Title: Re: Equipment was acquired for $258,000 and has accumulated depreciation of $194,000. The business ... Post by: Mrgo-breed on Oct 16, 2016 Happy to help :D
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