Business, 30.07.2020 16:01 elliottmpotts6647

Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land given up were $90,000 and $100,000, respectively. Assuming that the exchange has commercial substance, Horton would record land-new at and record a gain/(loss) of:

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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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