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Baxter Company transferred Equipment to Maize and Blue Company in exchange for Machinery of Maize...

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Accounting

Baxter Company transferred Equipment to Maize and Blue Company in exchange for Machinery of Maize and Blue. Assume that this transaction has commercial substance for both companys
Baxter Company equipment transferred to Maize and Blue
Original Cost $25,000
Accum. Deprec. 15,000
Cash Received 5,000
Fair Market Value of
Truck Given 23,000
Maize and Blue Transfer of machine to Baxter
Original Cost 25,000
Accum. Deprec. 9,000
Cash Given 5,000
Fair Market Value of
Truck Given 18,000
The cost of the machine to be recorded on Baxter's books is:
Multiple Choice
$7,826
$5,000
$18,000
$4,000

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