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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

Dennis traded in computer equipment with an adjusted basis of \$15,000 (and a value of \$15,000) for other (like-kind) computer equipment then valued at \$7,000. Dennis also received \$8,000 in cash as part of the deal. What was Dennis's realized gain on the exchange, if any?

a. \$15,000

b. \$8,000

c. \$7,000

d. \$0

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M941556

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