SB Traded in Printing Press a with a Book Value

question 88

Multiple Choice

SB traded in printing press A with a book value of $5,200 and a market value of $6,000 for printing press B that had a market value of $8,801. Press B was both larger and faster than the one exchanged and was quoted at $10,000. SB also paid $2,800 cash boot. What should SB record as the cost of press B?

• A) $6,000
• B) $8,000
• C) $8,800
• D) $10,000

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Issues relating to the misuse or dependence on alcoholic beverages or narcotics, which can lead to physical, psychological, and social harm.

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