Valix Finacc vol 1 Problem 15-12

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 15-12

ABC                                                                                                        XYZ

Equipment - new                         500,000                          Equipment – new                          500,000  

Accumulated depreciation  2,000,000                        Accumulated depreciation   1,750,000

      Equipment – old                                       2,400,000          Equipment – old                                        2,200,000

      Gain on exchange                                      100,000          Gain on exchange                                         50,000