How much gain or loss did mr. a recognize on this exchange?, Ask an Expert

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In a kind exchange Mr. A transferred equipment worth $820,000 (Mr. A's adjusted basis was $475,000). In exchange for his equipment, Mr A received like kind equipment, Mr. A received like kind eqiupment worth $650,000 plus additional cash boot. How much gain or loss did Mr. A RECOGNIZE on this exchange? How much gain or loss Mr. A REALIZE gain?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945723

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