On the First Day of the Fiscal Year, a New

question 89

Essay

On the first day of the fiscal year, a new walk-in cooler with a list price of $52,000 was acquired in exchange for an old cooler and $42,000 cash. The old cooler had a cost $24,000 and accumulated depreciation of $17,000.
a)Determine the gain to be recorded on the exchange.
b)Joumalize the entry to recort the exchange.

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Definitions:

Human Factors Psychologist

A professional who applies psychological principles to the design of products, processes, and systems to optimize human well-being and overall system performance.

Person-machine Interactions

The study and design of systems and environments where humans and machines cooperate or interact.

Optimum Work Environments

refers to ideal conditions in the workplace that maximize employee performance and well-being, integrating factors such as physical space, social atmosphere, and organizational culture.

Organizational Structures

The systems and hierarchies established within an organization to define roles, responsibilities, and the flow of information.