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7. Alamos Co. exchanged equipment and $18,100 cash for similar equipment. The book value and the fair value of the old equipment were $80,800 and
7. Alamos Co. exchanged equipment and $18,100 cash for similar equipment. The book value and the fair value of the old equipment were $80,800 and $90,200, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of: $0. $27,500. $(9,400). $9.400
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Financial Accounting Fundamentals
Authors: John J. Wild
5th edition
1308500102, 1308500106, 78025753, 978-0078025754
