A Computer Server System, Which Had Cost $250,000 and Had

question 66

Essay

A computer server system, which had cost $250,000 and had accumulated depreciation of $170,000, was traded for a new system with a fair market value of $245,000. The old system and cash of $190,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets.

---

Definitions:

Organic Methyl Molecules

Organic compounds that contain a methyl group (-CH3), which are involved in a wide range of chemical processes in living organisms.

Epigenetic Marks

Chemical modifications to DNA and histone proteins that affect gene expression without altering the underlying DNA sequence, crucial for cellular differentiation and development.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA that carries genetic information.

Genomes

The complete set of DNA in an organism, encompassing all of its genes and the sequences that regulate their expression.