Business, 28.01.2020 21:42 Pauline3607

Afixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at $50,000 (fair market value) in a transaction with commercial substance.
assuming a trade-in allowance of $4,000, at what cost will the new equipment be recorded in the books?

a. $45,000 b. $51,000 c. $54,000 d. $50,000

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Afixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar...