In January 2014, Bevis Company exchanged an old machine, with a book value of $256,000 and a fair value of $260,000, and paid $40,000 cash for a similar used machine having a fair value of $300,000 . The exchange lacked commercial substance. At what amount should the machine acquired in the exchange be recorded on Bevis' books?
a. $256,000
b. $296,000
c. $300,000
d. $304,000
B
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Which one of the following adjustments will increase assets?
A) Interest incurred on money borrowed during the period but not yet paid to the bank. B) Rent revenue is recorded for amounts owed by a tenant but not yet paid. C) The use of supplies is recorded. D) Depreciation for the period is recorded.
Punctuate the sentence correctly. Ryan has gotten straight As every semester
What is a person's right to die? What are the views regarding the legality of euthanasia in the United States?
What will be an ideal response?
Financial accounting focuses primarily on reporting:
A. to financial institutions. B. to parties outside of an organization. C. to parties within an organization. D. for financial institutions. E. to an organization's board of directors.