Lewis company traded machinery with a book value of $950,000 and a fair value of $900,000. it received in exchange from timmons company a machine with a fair value of $1,000,000. lewis also paid cash of $100,000 in the exchange. timmons’s machine has a book value of $950,000. what amount of gain or loss should lewis recognize on the exchange (assuming lack of commercial substance)?

As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage