Discussion Post
Imagine you are the accounting manager for a manufacturing company's fixed assets department. The CFO is assessing the benefits of acquiring a new John Deere Tractor and Elite Combine and disposing of similar used equipment. The CFO has asked you to do the following:
a) Explain the effect of each transaction on the financial statements.
b) Explain how the substance and asset and/or monetary exchange affects the reporting of the transaction and the financial statements.
Be sure to elaborate on your thinking and provide examples.
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.