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How much is the initial measurement of the equipment receive

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Reference no: EM132809619

Entity A exchanged equiptment 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

Problem 1: 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

Problem 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: EM132809619

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