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Business, 14.05.2021 20:40 Serenitybella

Bonita Industries received $108000 in cash and a used computer with a fair value of $384000 from Carla Vista Co. for Bonita Industries's existing computer having a fair value of $492000 and an undepreciated cost of $461700 recorded on its books. The transaction has no commercial substance. How much gain should Bonita recognize on this exchange, and at what amount should the acquired computer be recorded, respectively

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Bonita Industries received $108000 in cash and a used computer with a fair value of $384000 from Car...

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