On February 1, 2022, Pepita Co. exchanged land and $9,000 cash for equipment. The book value and the fair value of the l
Posted: Sat Feb 19, 2022 2:32 pm
On February 1, 2022, Pepita Co. exchanged land and $9,000 cash
for equipment. The
book value and the fair value of the land were $106,000 and
$90,000, respectively.
Assuming that the exchange has commercial substance. Journalize the
land exchange
on February 01, 2022.
for equipment. The
book value and the fair value of the land were $106,000 and
$90,000, respectively.
Assuming that the exchange has commercial substance. Journalize the
land exchange
on February 01, 2022.