Equipment was acquired for $210,000 and has accumulated depreciation of $93,000. the business exchanges this equipment for new equipment. the new equipment has a market value of $304,000 and the business pays $52,000 cash. assume the exchange has commercial substance.
the exchange results in a:
(a) gain $187,000
(b) loss $187,000
(c) gain $135,000
(d) loss $135,000
Answers: 3
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Equipment was acquired for $210,000 and has accumulated depreciation of $93,000. the business exchan...
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