Solution-How much is the initial measurement of the

How much is the initial measurement of the equiptment

Reference no: EM132731177

Entity A exchanged equiptment with entity B.

Data is below Entity A Entity B

Carrying Amount 85,000 130,000

Fair Value 95,000 indeterminable

Cash paid by entity B to A 15,000

Problem 1: If the exchange has commercial substance, how much is the initial measurement of the equiptment received by Entity b?

a 95,000

b. 115,000

c. 110,000

Problem 2: If the exchange has commercial Substance, how much is the gain (loss) recognized by Entity B in the exchange?

a. (50,000)

b. (35,000)

c. 0

Reference no: EM132731177

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How much is the initial measurement of the equiptment

Reference no: EM132731177

Reference no: EM132731177

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