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What is effect of each transaction on financial statement

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Reference no: EM132598719

If you are an accounting manager for a manufacturing company's fixed assets department and the CFO is assessing the benefits of acquiring a new John Deere Tractor and Elite Combine and disposing of similar used equipment.

Question 1. What is the effect of each transaction on the financial statements?

Question 2. How is the substance and asset and/or monetary exchange effects the reporting of the transaction and the financial statements?

Reference no: EM132598719

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