Exercício de Finanças 495

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10-74Copyright © 2013 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 15/e, Solutions Manual (For Instructor Use Only) Ahmed Nawfal 
PROBLEM 10-10 (Continued) 
 
(c) Has Commercial Substance 
 
 Marshall Construction 
 1. Equipment ($98,000 + $102,000) ...................... 200,000 
 Accumulated Depreciation—Equipment ........ 50,000 
 Equipment ................................................ 140,000 
 Cash ......................................................... 102,000 
 Gain on Disposal of Equipment .............. 8,000* 
 *Computation of gain: 
 Fair value of old crane $98,000 
 Less: Book value of old crane 
 ($140,000 – $50,000) 90,000 
 Gain on Disposal of Equipment $ 8,000 
 
 
 
 Brigham Manufacturing 
 2. Cash ................................................................. 102,000 
 Inventory .......................................................... 98,000 
 Sales Revenue ........................................ 200,000 
 
 Cost of Goods Sold ......................................... 165,000 
 Inventory ................................................. 165,000 
 
(d) Marshall Construction 
 1. Equipment ........................................................ 200,000 
 Accumulated Depreciation—Equipment ....... 50,000 
 Cash ........................................................ 103,000 
 Equipment ............................................... 140,000 
 Gain on Disposal of Equipment ............. 7,000* 
 
 *[Fair Value–Old ($97,000) – Book Value–Old ($90,000)] 
 
 Note: Cash involved is greater than 25% of the value of the ex-
change, so the gain is not deferred.