Question: Below are the data relative to Boron's asset that was exchanged for a new asset: Old equipment Book Value Fair Value Cash paid With commercial

Below are the data relative to Boron's asset that was exchanged for a new asset: Old equipment Book Value Fair Value Cash paid With commercial substance 75, 000 85, 000 15, 000 Lacking commercial substance 50, 000 75, 000 7, 000 52. In the transaction that has commercial substance, Boron will record Equipment at : Gain or (loss) of: a . 90, 000 0 b . 100 , 000 10, 000 C . 75, 000 (5, 000) d. 90, 000 10, 000 53. In the transaction that lacks commercial substance, Boron will record Equipment at: Gain or (loss) of: a . 57, 000 0 b . 75, 000 25, 000 C . 82, 000 25, 000 d 50, 000 0

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