Question
Carla Co.
Sarasota Co.
(a)
Account Titles and Explanation
Debit
Credit
Carla Company:
Sarasota Company:
Open Show Work
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Carla Company exchanged equipment used in its manufacturing operations plus $3,600 in cash for similar equipment used in the operations of Sarasota Company. The following information pertains to the exchange.
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Carla Co.
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Sarasota Co.
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Equipment (cost)
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$33,600
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$33,600
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Accumulated depreciation
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22,800
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12,000
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Fair value of equipment
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15,000
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18,600
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Cash given up
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3,600
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