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Question 4 On January 1, 2019. MKC, chod was of que beloning Anno 16.000, 12.50...

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Question 4 On January 1, 2019. MKC, chod was of que beloning Anno 16.000, 12.50 SIM000 orca was by All Catheboho boca.1.2019 Forreto ALTFCTO ALT.FM B 7 Parada On January 1, 2019, MK Co. exchanged a Building which has a fair value of S6,400,000, a cost of $10.420,000, and accumulated depreciation of S4,800,000 for Equipment belonging to ABC Co. Equioment has a fair value of 56,016,000, a cost of $12,040,000 and accumulated depreciation of S6,336,000. In addition, S384,000 of cash was also paid by ABC Co. Prepare the entries on both companies' books assuming the exchange had commercial substance, on January 1, 2019

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