ABC partnership is dissolving.assume the noncash assets ( axxounts recwivable with a carrying amount of 4 5

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ABC partnership is dissolving.assume the noncash assets

(

axxounts recwivable with a carrying amount of

45000

and equupment with a cost of

65000

and accumulated depreciation of

35000)

are sold on january

22

for

85000 .

what is the gain or loss recognized on sale?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

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Posted Date: Mar 30, 2024 11:00 AM

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ABC partnership is dissolving.assume the noncash assets ( axxounts recwivable with a carrying amount of 4 5

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To determine the gain or loss recognized on the sale of the noncash assets we need to calc... View the full answer

Intermediate Accounting

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