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A2 Card Ltd has acquired a printing press from Metal B Ltd. The deal required A2...

A2 Card Ltd has acquired a printing press from Metal B Ltd. The deal required A2 Card Ltd to exchange the following assets for the printing press

Shares in A2 Card Ltd 200,000 shares with a market value of $1.10 each
Vehicle Cost $80,000, accumulated depreciation $32,000, fair value $60,000
Cash $20,000

The cost to install the press was $4000 (not yet paid). What is the entry to record the purchase of the printing press?



Dr Cr
Printing press 304,000
Share capital 220,000
Vehicle 60,000
Installation cost payable 4,000
Cash 20,000


Dr Cr
Printing press 304,000
Accumulated depreciation 32,000
Share capital 220,000
Vehicle 80,000
Gain on disposal of vehicle 12,000
Installation cost payable 4,000
Cash 20,000


Dr Cr
Printing press 292,000
Accumulated depreciation 32,000
Share capital 220,000
Vehicle 80,000
Installation cost payable 4,000
Cash 20,000
Dr Cr
Printing press 260,000
Accumulated depreciation 32,000
Loss on disposal of vehicle 12,000
Share capital 220,000
Vehicle 60,000
Installation cost payable 4,000
Cash 20,000





A2 Card Ltd has acquired a printing press from Metal B Ltd. The deal required A2 Card Ltd to exchange the following assets for the printing press

Shares in A2 Card Ltd 200,000 shares with a market value of $1.10 each
Vehicle Cost $80,000, accumulated depreciation $32,000, fair value $60,000
Cash $20,000

The cost to install the press was $4000 (not yet paid). What is the entry to record the purchase of the printing press?



Dr Cr
Printing press 304,000
Share capital 220,000
Vehicle 60,000
Installation cost payable 4,000
Cash 20,000


Dr Cr
Printing press 304,000
Accumulated depreciation 32,000
Share capital 220,000
Vehicle 80,000
Gain on disposal of vehicle 12,000
Installation cost payable 4,000
Cash 20,000


Dr Cr
Printing press 292,000
Accumulated depreciation 32,000
Share capital 220,000
Vehicle 80,000
Installation cost payable 4,000
Cash 20,000
Dr Cr
Printing press 260,000
Accumulated depreciation 32,000
Loss on disposal of vehicle 12,000
Share capital 220,000
Vehicle 60,000
Installation cost payable 4,000
Cash 20,000





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