Cedric Company recently traded in an older model of equipment for a new model. The old...

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Cedric Company recently traded in an older model of equipment for a new model. The old models book value was $198,000 (origi

business accounting

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Answer 1

Answer #1

Computer - New(220,000+62,000)	282,000
Accumulated Depreciation	240,000
Gain on exchange		22,000
Cash		62,000
Computer - Old		438,000

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Answer 2

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