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our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the...

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solution


Question

our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming the exchange lacks commercial substance, which amount is correct?

 

Paper#75247 | Written in 18-Jul-2015

Price : $22
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