ACC 422 Week 3 Problems P10-8, P9-9

May 8th, 2015
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ACC 422 Week 3 Problems P10-8, P9-9

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)Susquehanna sEntriesBook value110,000Fair value92,000Loss on disposal18,000Fair value92,000Cash received23,000Cost of new machine115,000EquipmentAccumulated Depretiation- equipmentLoss on exchange of machineryOriginal cost of equipmentCash115,00050,00018,000160,00023,000Chowctaw sEntriesBook value75,000Fairvale69,000Loss on exchange6,000Fair value69,000Cash23,000Cost of new machine92,000EquipmentAccumulated depreciationLoss on exchangeOriginal cost of equipmentCash92,00045,0006,000120,00023,000Susquehannas EntriesEquipmentAccumulated DepreciationLoss on ExchangeOriginal machinery92,00050,00018,000160,000Powhatans EntriesBookvalue MachineFair valueGain on exchange76,00092,00016,000EquipmentAccumulated depreciationLess gain on exchangeOriginal machinery92,00071,00016,000147,000SusquehannasEntriesFair value92,000Cash paid out8,000Cost of new machine100,000EquipmentAccumulated DepreciationLoss on exchangeOriginalmachineryCash paid out100,00050,00018,000160,0008,000Shawnee sEntriesBook valueFair valueGain85,000100,00015,000Fair valueCash receivedNew machine100,0008,000108,000New equipmentAccumulated depreciationOriginal machinerycash receivedGain on exchange108,00075,000160,0008,00015,000SusquehannasEntriesFair value92,000Cash paid out93,000Cost of new machine185,000EquipmentAccumulated depreciation

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