ch10-assetexchange-資料下載頁
2025-05-19 21:41本頁面
【導(dǎo)讀】moreevident.fortheexchange.interstatemustpay$17,000cashfortheland.mercialsubstance.Inthiscase,thegainof$7,000isnotrecognized(Interstatedidnot. receivecash).
【正文】 4,000) is not recognized. The recorded cost of the new asset is puted as: Fair value of the received machine $ 90,000 less: gain deferred 36,000 Cost of new machine $ 54,000 000,4$000,40$000,90$000,10$ 000,10$ ???Chapter 1014 Exchange – Gain Situation Illustration (without mercial substance – some cash received): The journal entry is: Cash 10,000 Machine(new) 54,000 Accumulated depreciationmachine 50,000 Machine(old) 110,000 Gain on disposal of machine 4,000 Chapter 1015 Summary of Gain and Loss Recognition on Exchanges of Nonmoary Assets Valuation ? Compute the total gain or loss on the transaction: the difference between the fair value of the asset given up and the book value of the asset given up. ? If a loss, always recognize the entire loss. ? If a gain: ? and the exchange has mercial substance, recognize the entire gain. ? and the exchange lacks mercial substance, 1) no cash is received, no gain is recognized 2) some cash is received, a portion of gain is recognized
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