Business, 02.01.2020 21:31, Arianaagosto

Texarkana company exchanged equipment that cost $85,000 and has accumulated depreciation of $29,800 and a fair value of $60,000. it receives in exchange an equipment with a fair value of $48,000 and received $12,000 cash. the exchange lacks commercial substance. the gain to be recognized from the exchange is

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Texarkana company exchanged equipment that cost $85,000 and has accumulated depreciation of $29,800...