Business, 02.06.2021 01:00 bryan12376

The Bronco Corporation exchanged land for equipment. The land had a book value of $125,000 and a fair value of $160,000. Bronco received $15,000 from the owner of the equipment to complete the exchange which has commercial substance. Required: 1. What is the fair value of the equipment

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The Bronco Corporation exchanged land for equipment. The land had a book value of $125,000 and a fai...