A Company Bought New Heating System for $42,000 and Was

question 68

Multiple Choice

A company bought new heating system for $42,000 and was given a trade-in of $2,000 on an old heating system,so the company paid $40,000 cash with the trade-in.The old system 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 heating system at:

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

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Definitions:

Crossing-Over

A process in which genetic material (DNA) is exchanged between paired, homologous chromosomes.

Haploid Gamete

A reproductive cell, such as a sperm or egg, that contains a single set of chromosomes and thus only one allele for genetic traits.

Prophase I

The first phase of meiosis I, where chromosomes condense, pair up, and exchange segments in a process called crossing-over.

Tetrads

Groups of four chromatids formed by the pairing of two homologous chromosomes during meiosis.