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jmg89 jmg89
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Posts: 325
5 years ago
Equipment was acquired for $256,000 and has accumulated depreciation of $187,000. The business exchanges this equipment for new equipment.  The new equipment has a market value of $208,000 and the business pays $159,000 cash.  Assume the exchange has commercial substance.  The exchange results in ________.
A) loss $20,000
B) gain $20,000
C) gain $139,000
D) loss $139,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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homework1homework1
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Posts: 188
5 years ago
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jmg89 Author
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5 years ago
You are really a genius. Thanks
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5 years ago
NP
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3 years ago
Thank you
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2 years ago
thank you
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