Company A gives Plant and Machinery ($500,000 cost, $200,000 accumulated depreciation) and $100,000 cash for...
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Accounting
Company A gives Plant and Machinery ($500,000 cost, $200,000 accumulated depreciation) and $100,000 cash for AI Machinery. The fair value of the Plant and Machinery is $350,000. The fair value of the AI Machinery is $450,000. *
Gain on Exchange is $50,000
Loss on Exchange is $50,000
Gain on Exchange is $100,000
Loss on Exchange is $100,000
Which is the right option ?
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