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How much the cost of the new machinery company records

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Question - ABC Company exchanged machinery with a cost of £350,000 and accumulated depreciation of £120,000 and a fair value of £200,000. It received in exchange from CBS Company a new machine with a list price of £180,000 and cash of £20,000 (cash received, not paid). The transaction has no commercial substance. How much the cost of the new machinery that ABC Company records?

Reference no: EM132594689

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