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Home Q & A Board Other Fields Homework Help Business Accounting
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msee1021 msee1021
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5 years ago
Equipment was acquired for $208,000 and has accumulated depreciation of $94,000. The business exchanges this equipment for new equipment. The new equipment has a market value of $310,000 and the business pays $60,000 cash. Assume the exchange has commercial substance. The exchange results in ________.
A) loss $136,000
B) gain $196,000
C) gain $136,000
D) loss $196,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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Helpmeplease11Helpmeplease11
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4 years ago
Slight Smile
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2 years ago
thank you
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