Business, 19.02.2021 03:40 emmanuellugo40
Caleb Co. owns a machine that had cost $44,400 with accumulated depreciation of $19,400. Caleb exchanges the machine for a newer model that has a market value of $55,000. 1. Record the exchange assuming Caleb paid $31,000 cash and the exchange has commercial substance. 2. Record the exchange assuming Caleb paid $23,000 cash and the exchange has commercial substance.
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Caleb Co. owns a machine that had cost $44,400 with accumulated depreciation of $19,400. Caleb excha...
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