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Question 1: A company exchanges its old office equipment and $80,000 for new office equipment. The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The cost of the new office equipment would be recorded at
a. $136,000.
b. $120,000.
c. $96,000.
d. cannot be determined.
Prepare the company's direct materials budget. The company expects to start the first quarter with 1,620 units in finished goods inventory.
the footnote disclosures that are required relative to depreciable assets
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