Debit Credit Cash $5,000 Accumulated Depreciation-Equipment $1,200 Accounts Receivable 5,000 Accounts Payable 3,400 Inventory 1,800 Owner's Capital 28,200 Equipment 21,000 $32,800 $32,800 *(3,000 x $0.60)
Debit Credit Cash $5,000 Accumulated Depreciation-Equipment $1,200 Accounts Receivable 5,000 Accounts Payable 3,400 Inventory 1,800 Owner's Capital 28,200 Equipment 21,000 $32,800 $32,800 *(3,000 x $0.60)
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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Question
![Debit
Credit
Cash
$5,000
Accumulated Depreciation-Equipment
$1,200
Accounts Receivable
5,000
Accounts Payable
3,400
Inventory
1,800
Owner's Capital
28,200
Equipment
21,000
$32,800
$32,800
*(3,000 x $0.60)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5bce8b6-3d62-4f33-828a-144e35550fa6%2F9ba57865-74b2-47e1-8b8e-afecdfe44d3f%2Fjc5moo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Debit
Credit
Cash
$5,000
Accumulated Depreciation-Equipment
$1,200
Accounts Receivable
5,000
Accounts Payable
3,400
Inventory
1,800
Owner's Capital
28,200
Equipment
21,000
$32,800
$32,800
*(3,000 x $0.60)
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