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Business, 08.12.2020 16:30, tyricqreed91
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 $42,000 and received $18,000 cash. The exchange lacked commercial substance. The gain to be recognized from the exchange is:
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Answers: 2
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Texarkana Company exchanged equipment that cost $85,000 and has accumulated depreciation of $29,800...
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