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pearpeaerrr1993
27.11.2019 •
Business
Amachine that was purchased for $110,000 has accumulated depreciation of $90,000. the business exchanges the machine for a new one. the new machine has a market value of $140,000, and the business pays $110,000 cash. assume the exchange has commercial substance. this exchange results in a
a, loss of $10,000
b. gain of $5,000
c. loss of $20,000
d. gain of $10,000
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Ответ:
option (D) gain of $10,000
Explanation:
Data provided in the question:
Cost of the machine purchased earlier = $110,000
Accumulated depreciation = $90,000
Market value of the new machine = $140,000
Cash paid for the new machine = $110,000
Now,
The Book value of the old machine
= Cost of purchase - Accumulated depreciation
= $110,000 - $90,000
= $20,000
Thus,
Total amount paid for the new machine
= Book value of the old machine + Cash paid for the new machine
= $20,000 + $110,000
= $130,000
Therefore,
Gain from the exchange
= Market value of the new machine - Total amount paid
= $140,000 - $130,000
= $10,000
Hence,
The correct answer is option (D) gain of $10,000
Ответ:
net gain = $10000
so correct option is D. gain of $10,000
Explanation:
given data
purchased = $110,000
accumulated depreciation = $90,000
market value = $140,000
business pays cash = $110,000
to find out
exchange results
solution
we get first current book value of the machine that is here
current book value = purchased - accumulated depreciation 1
put here valuer we get
current book value = $110000 - $90000
current book value = $20000
we know that new machine is exchanged = $110000
and market value = $140000
so we can say here net gain is
net gain = $140000 - $110000 - $20000
net gain = $10000
so correct option is D. gain of $10,000
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