A Company Exchanged an Old Machine, Which Originally Cost $33,000

question 21

Short Answer

A company exchanged an old machine, which originally cost $33,000 and has accumulated depreciation to date of $18,000, for a new machine. The old machine had a fair value of $21,000. The cost of the new machine should be recorded at $___________.

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Definitions:

Depression

A condition affecting mental well-being, defined by an ongoing low mood or disinterest in pursuits, leading to major difficulties in everyday activities.

Heart Disease

A range of conditions that affect the heart, including blood vessel diseases, heart rhythm problems (arrhythmias), and heart defects one is born with (congenital heart defects), among others.

Emotional Dysfunction

Impairment in the regulation and processing of emotions, which can affect behavior and mental health.

Overcompensation

A defense mechanism where an individual attempts to cover up perceived weaknesses or vulnerabilities by emphasizing traits in the opposite direction.