Business, 12.02.2021 16:40 miathegeek97

Company A is unable to make the December 31, 2019 interest payment. Company A is a calendar year company and accrued the 2019 interest On 1/1/2020 Company A agrees to transfer land and a building to Company B in full settlement of the note FMV 1/1/2020 $100,000 Land $250,000 Building Original Cost to Company A $75,000 land $300,000 Building Accum Dep 1/1/2020 $0 land $100,000 Building Book Value 1/1/2020 $75,000 land $200,000 Building What is the incremental impact on earnings for Company A from the settlement?

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Company A is unable to make the December 31, 2019 interest payment. Company A is a calendar year com...

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