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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 equiptment 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
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