PROBLEM 10-8 - PROBLEM 10-8 1. Susquehanna Corporation...

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PROBLEM 10-8 1. Susquehanna Corporation Cash. ................................................................................... 23,000 Machinery. ......................................................................... 69,000 Accumulated Depreciation. ......................................... 50,000 Loss on Exchange of Machinery. .............................. 18,000* Machinery . ............................................................... 160,000 *Computation of loss: Book value $110,000 Fair value (92,000) Loss $ 18,000 Choctaw Company Machinery. ......................................................................... 92,000 Accumulated Depreciation. ......................................... 45,000 Loss on Exchange of Machinery. .............................. 6,000* Cash . ......................................................................... 23,000 Machinery . ............................................................... 120,000 *Computation of loss: Book value $ 75,000 Fair value (69,000)
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PROBLEM 10-8 - PROBLEM 10-8 1. Susquehanna Corporation...

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