Business, 05.06.2020 13:57 kmcpig

Haley's Hamburger's has just completed an exchange of some of their long-term assets with Barry's Burgerlicious. Haley's receives a delivery truck and gives up a piece of machinery. The fair value and book value of the machinery were $31,000 and $24,000 (original cost of $35,000 less accumulated depreciation of $11,000), respectively. Since the delivery truck was worth $36,000, Haley's paid an additional $5,000 in cash to Barry's. Record this exchange for Haley's Hamburger's.

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Haley's Hamburger's has just completed an exchange of some of their long-term assets with Barry's Bu...

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