Business

Business, 24.10.2019 03:30, mamieengler

In a nonmonetary exchange of equipment, if the exchange has commercial substance, a gain is recognized it: a. the fair value of the equipment received exceeds the book value of the equipment received. b. the book value of the equipment received exceeds the fair value of the equipment given up. c. the fair value of the equipment surrendered exceeds the book value of the equipment given uup. d. none of the above is correct.

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Business, 28.08.2019 18:30, syrai1254

Pensacola inc exchanged old equipment for new equipment in two exchange transactions. each transaction has commercial substance old equipment case book value fair value receiveequipment a $73,900 $80,100 $12,400equipment b $60,300 $55,000 $10,200for equipment a, pensacola would record the new equipment atmultiple choicea.$69,200b.$67,700c.$55,200d.$ 71,950

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Business, 01.11.2019 06:31, groverparham3

Reba company received $60,000 in cash and used equipment with a fair value of $160,000 from fargo corporation in exchange for reba's existing equipment, which had a fair value of $210,000 and an undepreciated cost of $170,000 recorded on its books. the transaction was undertaken because reba was revising its market strategy and planned to reduce the use of this type of equipment in its production. how much gain should reba recognize on this exchange and at what value should the acquired equipment be recorded, respectively? gain – $10,000 and equipment – $150,000 gain – $10,000 and equipment – $160,000 gain – $40,000 and equipment – $150,000 gain – $40,000 and equipment – $160,000

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