[The following information applies to the questions displayed below.] Case A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $21 , 500 (original cost of $47 , 000 less accumulated depreciation of $25 , 500 ) and a fair value of $10 , 900 . Kapono paid $39 , 000 cash to complete the exchange. The exchange has commercial substance. Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $595 , 000 and a fair value of $890 , 000 . Kapono paid $69 , 000 cash to complete the exchange. The exchange has commercial substance. Problem 10-8 (Algo) Case A Required: 1. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required: 1.What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor? Required: 1.What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Assume the fair value of the old tractor given is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?
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-The following information applies to the questions displayed below-- (8).docx
1. [The following information applies to the questions displayed below.] Case A. Kapono Farms
exchanged an old tractor for a newer model. The old tractor had a book value of $21 , 500
(original cost of $47 , 000 less accumulated depreciation of $25 , 500 ) and a fair value of $10 ,
900 . Kapono paid $39 , 000 cash to complete the exchange. The exchange has commercial
substance. Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The
farmland given had a book value of $595 , 000 and a fair value of $890 , 000 . Kapono paid $69 ,
000 cash to complete the exchange. The exchange has commercial substance. Problem 10-8
(Algo) Case A Required: 1. What is the amount of gain or loss that Kapono would recognize on
the exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10
, 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What
is the initial value of the new tractor? Answer is complete but not entirely correct. Complete this
question by entering your answers in the tabs below. Required: 1.What is the amount of gain or
loss that Kapono would recognize on the exchange of the tractor? 2. Assume the fair value of the
old tractor is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono
would recognize on the exchange? What is the initial value of the new tractor? Answer is
complete but not entirely correct. Complete this question by entering your answers in the tabs
below. What is the amount of gain or loss that Kapono would recognize on the exchange of the
tractor? Required: 1.What is the amount of gain or loss that Kapono would recognize on the
exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10 ,
900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is
the initial value of the new tractor? Answer is complete but not entirely correct. Complete this
question by entering your answers in the tabs below. Assume the fair value of the old tractor
given is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would
recognize on the exchange? What is the initial value of the new tractor?
![[The following information applies to the questions displayed below.] Case A. Kapono Farms
exchanged an old tractor for a newer model. The old tractor had a book value of $21 , 500
(original cost of $47 , 000 less accumulated depreciation of $25 , 500 ) and a fair value of $10 ,
900 . Kapono paid $39 , 000 cash to complete the exchange. The exchange has commercial
substance. Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The
farmland given had a book value of $595 , 000 and a fair value of $890 , 000 . Kapono paid $69 ,
000 cash to complete the exchange. The exchange has commercial substance. Problem 10-8
(Algo) Case A Required: 1. What is the amount of gain or loss that Kapono would recognize on
the exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10
, 900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What
is the initial value of the new tractor? Answer is complete but not entirely correct. Complete this
question by entering your answers in the tabs below. Required: 1.What is the amount of gain or
loss that Kapono would recognize on the exchange of the tractor? 2. Assume the fair value of the
old tractor is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono
would recognize on the exchange? What is the initial value of the new tractor? Answer is
complete but not entirely correct. Complete this question by entering your answers in the tabs
below. What is the amount of gain or loss that Kapono would recognize on the exchange of the
tractor? Required: 1.What is the amount of gain or loss that Kapono would recognize on the
exchange of the tractor? 2. Assume the fair value of the old tractor is $33 , 000 instead of $10 ,
900 . What is the amount of gain or loss that Kapono would recognize on the exchange? What is
the initial value of the new tractor? Answer is complete but not entirely correct. Complete this
question by entering your answers in the tabs below. Assume the fair value of the old tractor
given is $33 , 000 instead of $10 , 900 . What is the amount of gain or loss that Kapono would
recognize on the exchange? What is the initial value of the new tractor?](https://image.slidesharecdn.com/thefollowinginformationappliestothequestionsdisplayedbelow-8-230220181101-05f189d1/85/The-following-information-applies-to-the-questions-displayed-below-8-docx-1-320.jpg)
