A Company Bought a New Display Case for $42,000 and Was

question 130

Multiple Choice

A company bought a new display case for $42,000 and was given a trade-in of $2,000 on an old display case,so the company paid $40,000 cash with the trade-in.The old case had an original cost of $37,000 and accumulated depreciation of $34,000.If the transaction has commercial substance,the company should record the new display case at:

• A)$ 2,000.
• B)$ 3,000.
• C)$40,000.
• D)$42,000.
• E)$43,000.

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Definitions:

Rows Of Data

Individual horizontal lines in a spreadsheet or database table, each containing a single record or set of related data.

INDEX Function

A function in spreadsheet software like Excel that returns the value of an element in a table or array, selected by the row and column number indexes.

Clear The Filter

The process of removing applied filters from a data set, returning it to its unfiltered state for a broader view or analysis.

Filtered

Relates to data or information that has been processed to remove unnecessary or irrelevant parts.