Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. horton stores exchanged land and cash of $5,200 fo

Horton Stores exchanged land and cash of $5,200 for simillar land. The book value and...

70.2K

Verified Solution

Question

Accounting

image

Horton Stores exchanged land and cash of $5,200 for simillar land. The book value and the falr value of the land were $89,900 and $101,100, respectively. Assuming that the exchange has commercial substance, Horton would record land-new and a gain/lloss) of Land Galn/loss) $95100 $11.200. O $106,300 $0 $106.300 $1.200

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

On May 12, 2008, a certain country had a 7.8 magnitude earthquake. What was the intensity...

Biology
1.2K views

Which scenario would probably NOT result in the formation of a new species O A...

Physics
1.2K views

1 A radioactive simultaneously O O X 2 X X 4 nucleus can decay by...

Physics
1.2K views

Co Co Ro Rotating Fixed Plate Ro 38 It is desired to keep current in...

Basic Math
1.2K views

Marina had $24,500 to invest. She divided the money into three different accounts. At the...

Statistics
1.2K views

Find the value of the combination 12 C6

Accounting
1.2K views

-Managerial performance can be measured in various ways, including return on investment (ROI) and residual...

Accounting
1.2K views

Stella is injured in a motor accident and is unconscious when brought to the hospital...

Accounting
1.2K views

Problem 11-2A (Part Level Submission) (Video) Ayala Corporation accumulates the following data relative to jobs...

Finance
1.2K views

3. (25 points) The company has the following book value balance sheet: Current Assets $30,000,000...

Finance
1.2K views

Youre trying to determine whether to expand your business by building a new manufacturing plant....

Accounting
1.2K views

On the last day of its fiscal year ending December 31, 2018, the Sedgwick &...