On the first day of the fiscal year, a new walk-in cooler with a list price of $58,000 was acquired in exchange for an old cooler and $44,000 cash. The old cooler had a cost of $25,000 and accumulated depreciation of $16,000.
Assume the transaction has commercial substance.
Definitions:
Arithmetic Operator
Symbols used in mathematics and programming to perform operations such as addition, subtraction, multiplication, and division on numerical values.
Division Operation
A mathematical operation that involves dividing one quantity by another to calculate the quotient.
Adjacent Ranges
In spreadsheets, two or more cell ranges that are next to each other, sharing a boundary or corner.
Numeric Data
Information represented in numbers, used for calculations, measurements, and statistical analysis.
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