FEEBLE Co. exchanged equipment with WEAK, Inc. Pertinent data are shown be3low: FEEBLE Co. WEAK, Inc. Equipment 4,000,000 8,000,000 Accumulated depreciation 800,000 3,200,000 Carrying amount 3,200,000 4,800,000 Fair value 3,800,000 4,400,000 Cash paid by FEEBLE to WEAK 600,000 600,000 In FEEBLE’s books, what amounts are
FEEBLE Co. exchanged equipment with WEAK, Inc. Pertinent data are shown be3low: FEEBLE Co. WEAK, Inc. Equipment 4,000,000 8,000,000 Accumulated depreciation 800,000 3,200,000 Carrying amount 3,200,000 4,800,000 Fair value 3,800,000 4,400,000 Cash paid by FEEBLE to WEAK 600,000 600,000 In FEEBLE’s books, what amounts are
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 6MC: Ashton Company exchanged a nonmonetary asset with a cost of 30,000 and accumulated depreciation of...
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- FEEBLE Co. exchanged equipment with WEAK, Inc. Pertinent data are shown be3low:
|
FEEBLE Co. |
WEAK, Inc. |
Equipment |
4,000,000 |
8,000,000 |
|
800,000 |
3,200,000 |
Carrying amount |
3,200,000 |
4,800,000 |
Fair value |
3,800,000 |
4,400,000 |
Cash paid by FEEBLE to WEAK
|
600,000 |
600,000 |
In FEEBLE’s books, what amounts are recognized for the following?
Equipment |
|
Gain (Loss) |
a. 5,000,000 |
|
1,200,000 |
b. 4,400,000 |
|
600,000 |
c. 3,800,000 |
|
1,200,000 |
d. 3,400,000 |
|
(600,000) |
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