Accounting Project 7 Homework 2016 in $8 only
Two companies exchange a group of manufacturing equipment as follows:
-ABC Company exchange the group of equipment items, which had an appraised value of $4,800,000, a cost of $7,590,000, and accumulated depreciation of $3,600,000 for a group of equipment items that belongs to xyz, Inc.
-XYZ Inc’s group of equipment items has an appraised value of $4,512,000, a cost of $9,030,000, and accumulated depreciation of $4,752,000.
-XYZ Inc paid $288,000 cash in the exchange transaction.
-Assume depreciation was already updated at the time of the exchange.
-Assume that management of ABC Company determined that the exchange had no commercial substance.
-Assume that management of XYZ Inc determined that the exchange had no commercial substance.
A. Prepare the entries, in T-account format, for ABC Company, using the attached T-account template (1A) (round to the nearest dollar)
B. Prepare the entries, in T-account format, for XYZ inc using the attached T-account template (1B) (round to the nearest dollar)
Price of Answer: Just US$8 only
Need Assistance…?? email us at [email protected].
If you need any type of help regarding Homework, Assignments, Projects, Case study, Essay writing or any thing else then just email us at [email protected]solvemyquestion.com. We will get back to you ASAP. Do not forget to maintain the time frame you need you work to be done.
You must be logged in to post a comment.