two conpanies, Denver and Bristol, each own a warehouse, and they agree to an exchange...
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two conpanies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hands. The following information for the 2 warehouses is available: Denver. Bristol Cost $105,00 $55,500 Accum. Depre $53,000 $22,000 Fair Values $45,000. $45,000 Assuming the exchane has commercial substance, prepare journal entries for denver and bristol to record the exchange ssuming the exchane does not have commercial substance, prepare journal entries for denver and bristol to record the exchange
Denver. Bristol
Cost $105,00 $55,500
Accum. Depre $53,000 $22,000
Fair Values $45,000. $45,000
Assuming the exchane has commercial substance, prepare journal entries for denver and bristol to record the exchange
ssuming the exchane does not have commercial substance, prepare journal entries for denver and bristol to record the exchange
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