A company purchased equipment valued at $145.000. It traded in old equipment for a $61,000 trade-in...
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A company purchased equipment valued at $145.000. It traded in old equipment for a $61,000 trade-in allowance and the company paid $84,000 cash with the trade-in. The old equipment cost $130,000 and had accumulated depreciation of $78,000. This transaction has commercial substance. What is the recorded value of the new equipment? Multiple Choice $52,000 $61,000 $84,000 A company purchased equipment valued at $145.000. It traded in old equipment for a $61,000 trade-in allowance and the company paid $84,000 cash with the trade-in. The old equipment cost $130,000 and had accumulated depreciation of $78,000. This transaction has commercial substance. What is the recorded value of the new equipment? Multiple Choice $52,000 $61,000 $84,000
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Given Value of new equipment received 145000 Cost of the old equipment 13... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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