vsmallwood2203 vsmallwood2203

11-10-2022
Business

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case a. kapono farms exchanged an old tractor for a newer model. the old tractor had a book value of $17,500 (original cost of $39,000 less accumulated depreciation of $21,500) and a fair value of $10,100. kapono paid $31,000 cash to complete the exchange. the exchange has commercial substance.

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