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Briyanne Inc.purchased a computer for $5,000.During 2015 and 2016,the company recorded total depreciation of $4,000 on the computer.On January 1,2017,the company traded in the computer for a new one,paying $4,000 cash.The fair market value of the new computer is $6,000.Journalize the company's exchange of computers.Assume the exchange had commercial substance.
Arbitration
A method of dispute resolution where a neutral third party (the arbitrator) makes a decision that is usually binding on all parties involved.
Certification
The process of officially recognizing someone or something as having certain qualifications or standards.
Certification Process
A process under labour legislation whereby a trade union acquires bargaining rights and is designated as the exclusive bargaining representative of a unit of employees.
Bargaining Rights
The rights granted to entities, often unions, to negotiate the terms of employment, including wages and working conditions, on behalf of a group of employees.
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