Seved

CHAPTER $11$ HOMEWORK ASSIGNMENT i

$22$

Prater Incorporated enters into an exchange in which it gives up its warehouse on $10$ acres of land and recelves a tract of land. A summary of the exchange is as follows:

$10$ points

$\backslash$table$[[$Transferred$,$FMV$,$Original Basis,$>$ Accunulated Depreciation$],[$Warehouse$,$$ $470,000,$$ $279,000,],[$Land$,75,$ ee$9,75,000,],[$Mortgage on warehouse,,$40,000,],[$Cash$,40,200,,]]$

$\backslash$table$[[$Assets Received,PNV$],[$Land$,$$$539,750$