Business, 18.12.2019 05:31 briseisr20

Horton stores exchanged land and cash of $5,000 for similar land. the book value and the fair value of the land were $90,000 and $100,000, respectively. assuming that the exchange has commercial substance, horton would record land—new and a gain/(loss) on exchange of assets in the amounts of: land gain/(loss) a. $ 105,000 $ 0 b. $ 105,000 $ 10,000 c. $ 95,000 $ 0 d. $ 95,000 $ 10,000

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Horton stores exchanged land and cash of $5,000 for similar land. the book value and the fair value...

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