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Equipment was acquired for $204,000 and has accumulated depreciation of $88,000. The business exchanges this equipment for new equipment. The new equipment has a market value of $302,000 and the business pays $56,000 cash. Assume the exchange has commercial substance. The exchange results inMay i know how to calcute gain or loss ?

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solution: Market value of new equipment Less Book value of asset exchanged (204000-88000)-116,000 cash paid Gain/Loss) 302,000 56,000 130,000 トト Sheet358 . Sheet359 , Sheet360 , Sheet36! Sheet362 . Sheet363 Sheet364 Sheet365 , Sheet366 ENG UK 06/11/2018 17:24

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