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What amount of gain or loss should hoyle recognize

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Question: Hoyle Company traded machinery with a book value of €285,000 and a fair value of €270,000. It received in exchange from Durler Company a machine with a fair value of €300,000. Hoyle also paid cash of €30,000 in the exchange. Durler's machine has a book value of €285,000. What amount of gain or loss should Hoyle recognize on the exchange?

Reference no: EM132754938

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