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How much is the gain recognized by entity b in exchange

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Reference no: EM132803670

Question - Entity A exchanged equipment with entity B. Data is below Entity A Entity B

Carrying Amount 85,000 130,000

Fair Value 95,000 indeterminable

Cash paid by entity B to A 15,000

If the exchange has commercial substance, how much is the initial measurement of the equipment received by Entity b?

a. 95,000

b. 115,000

c. 110,000

2. If the exchange has commercial Substance, how much is the gain (loss) recognized by Entity B in the exchange?

a. (50,000)

b. (35,000)

c. 0

Reference no: EM132803670

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