Question

Carla Co.

Sarasota Co.

(a)

Account Titles and Explanation

Debit

Credit

Carla Company:

Sarasota Company:

Open Show Work

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.

 

 

Carla Co.

 

Sarasota Co.

Equipment (cost)

 

$33,600

 

 

$33,600

 

Accumulated depreciation

 

22,800

 

 

12,000

 

Fair value of equipment

 

15,000

 

 

18,600

 

Cash given up

 

3,600

 

 

 

 

             

 

 

 

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