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deff fn [24]
11 months ago
8

wilson corporation exchanged land and $4,500 cash for material handling equipment. the land had a book value of $45,000 and a fa

ir value of $58,000. assume the exchange has no commercial substance
Business
1 answer:
77julia77 [94]11 months ago
7 0

Book Value Of Asset 58500000. Book Value of Assets is the asset's value in the books of records of a company or an institution at any given instance.

Assets Book Value Formula = Total Value of an Asset – Depreciation – Other Expenses

Book Value Of Asset  is$4,500(58,000 - 45,000) and the fair value of asset exchanged is58500000. As there is a change in the value, this substance exists in the transaction.

Commercial substance exists in business transactions where the outcome is anticipated to change the company's cash flows in the future and is considered only when there is a significant alteration in the risk of cash inflow, the timing of cash inflow, and the amount paid as a result of the transaction.

Learn more about Asset from

brainly.com/question/25746199

#SPJ4

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3 years ago
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Answer:

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3 years ago
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Answer:

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