Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land it exchanged for $34,000. The new land had a fair market value of $38,000. Arlington also received $8,000 of office equipment in the transaction. What is Arlington's recognized gain or loss on the exchange

$4,000

Explanation:

The computation of the recognized gain or loss on the exchange is as follows:

Here the cash received is of $8,000 and the realized gain is

= Fair market value - exchanged value

= $38,000 - $34,000

= $4,000

Now the amount that should be recorded by considering the lesser amount of the realized gain or the cash received

As it can be seen that the $4,000 is lesser amount as compared with the $8,000

So $4,000 would be recognized gain or loss

whats the

c

explanation:

well obviously you must be dumb if you dont noe dat