Homework Answers
| Fair Value of Equipment = $182000+26000= $208000 |
| Part-b | ||
| Account titles and explanation | Debit | Credit |
| Equipment ( 26000+182000) | 208,000 | |
| Gain on exchage of Land | 46,000 | |
| Land | 136,000 | |
| Cash | 26,000 | |
| ( record exchange of the Land) | ||
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The Bronco Corporation exchanged land for equipment. The land had a book value of $136,000 and...
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The Bronco Corporation exchanged land for equipment. The land had a book value of $125.000 and a fair value of $160,000. Bronco paid the owner of the equipment $15,000 to complete the exchange which has commercial substance Required: 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange. 7 points Complete this question by entering your answers in the tabs below. 013927 Required 1 Required 2 What is the fair value of...
Check my work The Bronco Corporation exchanged land for equipment. The land had a book value...
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The Bronco Corporation exchanged land for equipment. The land had a book value of $120,000 and...
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The Bronco Corporation exchanged land for equipment. The land had a book value of $123,000 and a fair value of $156,000. Bronco received $13,000 from the owner of the equipment to complete the exchange which has commercial substance.
The Bronco Corporation exchanged land for equipment. The land had a book value of $123,000 and a fair value of $156,000. Bronco received $13,000 from the owner of the equipment to complete the exchange which has commercial substance. Required:1. What is the fair value of the equipment?2. Prepare the journal entry to record the exchange.
The Bronco Corporation exchanged land for equipment. The land had a book value of $123,000 and a fair value of $156,000. Bronco paid the owner of the equipment $13,000 to complete the exchange which has commercial substance. Required: 1. What is the fai
The Bronco Corporation exchanged land for equipment. The land had a book value of $123,000 and a fair value of $156,000. Bronco paid the owner of the equipment $13,000 to complete the exchange which has commercial substance. Required:1. What is the fair value of the equipment?2. Prepare the journal entry to record the exchange.
The Bronco Corporation exchanged land for equipment. The land had a book value of $122,000 and a fair value of $154,000. Bronco received $12,000 from the owner of the equipment to complete the exchange which has commercial substance. Required: 1. What
The Bronco Corporation exchanged land for equipment. The land had a book value of $122,000 and a fair value of $154,000. Bronco received $12,000 from the owner of the equipment to complete the exchange which has commercial substance. Required:1. What is the fair value of the equipment?2. Prepare the journal entry to record the exchange.
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What is the correct debit and credit journal entries?
Also the account names say old or new, if your response could
include the correct account names that would be perfect.
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Check my work The Bronco Corporation exchanged land for equipment. The land had a book value of $136,000 and a fair value of $182,000. Bronco paid the owner of the equipment $26,000 to complete the exchange which has commercial substance 10 points Required 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange. Complete this question by entering your answers in the tabs below eBook Print Required 1 Required 2 What is...
The Bronco Corporation exchanged land for equipment. The land had a book value of $120,000 and a fair value of $150,000. Bronco received $10,000 from the owner of the equipment to complete the exchange which has commercial substance. Required: 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange.
The Bronco Corporation exchanged land for equipment. The land had a book value of $132,000 and a fair value of $174,000. Bronco received $22,000 from the owner of the equipment to complete the exchange which has commercial substance. Required: 1. What is the fair value of the equipment? 2. Prepare the journal entry to record the exchange.
The Bronco Corporation exchanged land for equipment. The land had a book value of $120,000 and a fair value of $150,000. Bronco paid the owner of the equipment $10,000 to complete the exchange which has commercial substance 100 Dates Required: 1. What is the fair value of the equipment? 2. Prepare the joumal entry to record the exchange.
What is the correct debit and credit journal entries?
Also the account names say old or new, if your response could
include the correct account names that would be perfect.
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