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16 July, 08:13

City Auto Parts recently traded in-store fixtures. The exchange had a commercial substance. The old fixtures had a cost of $52,000 and accumulated depreciation of $16,000. The city paid $110,000 for the new store fixtures. These new fixtures had a market value of $113,000. There is a loss of $33,000 on this exchange. True or false?

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  1. 16 July, 08:52
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    Maybe it was thing something you need to know

    Explanation:

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