21.Zhane Company exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021. Listed selling price of the car-900,000 FV of the computer system-860,000 Carrying amount of the car-600,000 If Zhane Company recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction? a. 100,000 b. 260,000 c. 140,000 d. Cannot be determined
21.Zhane Company exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021. Listed selling price of the car-900,000 FV of the computer system-860,000 Carrying amount of the car-600,000 If Zhane Company recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction? a. 100,000 b. 260,000 c. 140,000 d. Cannot be determined
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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21.Zhane Company exchanged a car from its inventory for a computer system to be used in its technological upgrading project. The following information relates to this exchange that took place on July 16, 2021.
Listed selling price of the car-900,000
FV of the computer system-860,000
Carrying amount of the car-600,000
If Zhane Company recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction?
Listed selling price of the car-900,000
FV of the computer system-860,000
Carrying amount of the car-600,000
If Zhane Company recognized a gain on this exchange of P160,000, how much was the amount paid to complete the transaction?
a. 100,000
b. 260,000
c. 140,000
d. Cannot be determined
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