Compute for the cost of the asset received by ABC Co. ABC Co. exchanged equipment with...

Transcribed Image Text:

Compute for the cost of the asset received by ABC Co. ABC Co. exchanged equipment with XYZ, Inc. Pertinent data are shown below: Equipment Accumulated depreciation Carrying amount Fair value Cash paid by ABC Co. to XYZ, Inc. ABC Co. 1,000,000 200,000 800,000 950,000 150,000 XYZ, Inc. 2,000,000 800,000 1,200,000 1,100 000 150,000 Compute for the cost of the asset received by ABC Co. ABC Co. exchanged equipment with XYZ, Inc. Pertinent data are shown below: Equipment Accumulated depreciation Carrying amount Fair value Cash paid by ABC Co. to XYZ, Inc. ABC Co. 1,000,000 200,000 800,000 950,000 150,000 XYZ, Inc. 2,000,000 800,000 1,200,000 1,100 000 150,000