Alamos Co. exchanged stuff and $18,000 cash for similar stuff. The book cost and the fair cost of the old stuff were $82,000 and $90,000, respectively.
Assuming that the exchange has business substance, Alamos would record a gain of = $8,000.
What is record and example?
Examples include documents, books, paper, electronic records, photographs, videos, sound recordings, databases, and other information compilations that are used for numerous purposes, or other material, regardless of physical form or characteristics.
What do you mean record?
Record means to set something down or maintain it in a way that keeps lifelong evidence of it. Record is also used to raise to the writing or document that is protect account of something. Record is also winning that is the finest or highest amount. Record has various other senses as a verb and a noun.
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