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Multiple Choice Question 95 Vaughn Inc. and Ivanhoe Co. have an exchange with no commercial substance. The asset given up by Vaughn Inc. has a book value of $54500 and a fair value of $89500. The asset given up by Ivanhoe Co. has a book value of $119500 and a fair value of $104500. Boot of $24500 is received by Ivanhoe Co. What amount should Ivanhoe Co. record for the asset received? $\boxed{104500} $\boxed{119500} $\boxed{79000} $\boxed{89500} Show Work is REQUIRED for this question: Open Show Work

          Multiple Choice Question 95
Vaughn Inc. and Ivanhoe Co. have an exchange with no commercial substance. The asset given up by Vaughn Inc. has a book value of $54500 and a fair value of $89500. The asset given up by Ivanhoe Co. has a book value of $119500 and a fair value of $104500. Boot of $24500 is received by Ivanhoe Co.
What amount should Ivanhoe Co. record for the asset received?
$\boxed{104500}
$\boxed{119500}
$\boxed{79000}
$\boxed{89500}
Show Work is REQUIRED for this question: Open Show Work

Multiple Choice Question 95
Vaughn Inc. and Ivanhoe Co. have an exchange with no commercial substance. The asset given up by Vaughn Inc. has a book value of 54500 and a fair value of89500. The asset given up by Ivanhoe Co. has a book value of 119500 and a fair value of104500. Boot of 24500 is received by Ivanhoe Co.
What amount should Ivanhoe Co. record for the asset received?104500
11950079000
89500
Show Work is REQUIRED for this question: Open Show Work

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