Business, 18.07.2020 23:01 conyers234

The Bronco Corporation exchanged land for equipment. The land had a book value of $139,000 and a fair value of $188,000. Bronco paid the owner of the equipment $29,000 to complete the exchange which has commercial substance. Required:
a. What is the fair value of the equipment?
b. Prepare the journal entry to record the exchange.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, christinachavez081

The federal act which provided over $7 billion to the epa to protect and promote "green" jobs and a healthier environment is the - national environmental policy act. - resource recovery act.- resource conservation and recovery act.- american recovery and reinvestment act. - clean air act.

Answers: 1

continue

Business, 22.06.2019 03:30, binodkharal2048

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Answers: 2

continue

Business, 22.06.2019 04:10, chloeholt123

What is the difference between secure bonds and naked bonds?

Answers: 1

continue

Business, 22.06.2019 08:50, sandram74691

Dyed-denim corporation is seeking to lower the costs of value creation and achieve a low-cost position. as a result, it plans to move its manufacturing plant from the u. s. to thailand, which based on company research, is the optimal location for production. this strategic move will most likely allow the company to realize

Answers: 3

continue

You know the right answer?

The Bronco Corporation exchanged land for equipment. The land had a book value of $139,000 and a fai...