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In Case B, Pensacola would record a gain/lloss) of. O $4,000. 0 (54,000. O ($10,000) O None of these answer choices are correct.

In Case B, Pensacola would record a gain/lloss) of. O $4,000. 0 (54,000. O ($10,000) O None of these answer choices are correct.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below is information relative to an exchange of equipment by Pensacola Inc. Assume the exchange has commercial substance. Case A Case B Old Equipment Book Value $75,000 $60.000 Old Equipment Fair Value $80,000 $56,000 ECOM dock 13 rations In Case B, Pensacola would record a gain/lloss) of. O $4,000. 0 (54,000. O ($10,000) O None of these answer choices are correct. Cash Received $12,000 $10,000
Transcribed Image Text:Below is information relative to an exchange of equipment by Pensacola Inc. Assume the exchange has commercial substance. Case A Case B Old Equipment Book Value $75,000 $60.000 Old Equipment Fair Value $80,000 $56,000 ECOM dock 13 rations In Case B, Pensacola would record a gain/lloss) of. O $4,000. 0 (54,000. O ($10,000) O None of these answer choices are correct. Cash Received $12,000 $10,000
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