Question alamos co exchanged equipment and 17300 cash for, Ask an Expert

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Question: Alamos Co. exchanged equipment and $17,300 cash for similar equipment. The book value and the fair value of the old equipment were $81,200 and $91,000, respectively.

Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of:

$9,800.

$27,100.

$(9,800).

$0.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92574728

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