3 14.32 Mc Graw Han Pec Required information Exercise 7-188 Record an exchange of land (LO7-6) [The following informatio

[answerhappygod]

3 14 32 Mc Graw Han Pec Required Information Exercise 7 188 Record An Exchange Of Land Lo7 6 The Following Informatio 1 (30.6 KiB) Viewed 52 times

3 14.32 Mc Graw Han Pec Required information Exercise 7-188 Record an exchange of land (LO7-6) [The following information applies to the questions displayed below) Exercise 7-18B Part 1 A company exchanged land it had been holding for future plant expansion for a more suitable parcel of land along distribution routes. The company reported the old land on the previously issued balance sheet at its original cost of $61,000. According to an independent appraisal, the old land currently is worth $114.000. The company paid $14.500 in cash to complete the transaction Required: 1. What is the fair value of the new parcel of land received by the company? Fat value of the now land < Prev 3 of 7 ⠀ Help Next > Save & Exit Sub 1123PM