ch10-assetexchange(已改無錯(cuò)字)
2023-07-13 21:41:42 本頁面
【正文】 o cash received): Assume that the Interstate Transportation Company exchange lacks mercial substance. In this case, the gain of $7,000 is not recognized (Interstate did not receive cash). Chapter 1011 Exchange – Gain Situation Illustration (without mercial substance): Some cash received: a portion of the gain is recognized Valuation ga i nr e c og ni z e dga i nt o t alr e c e i v e das s e t sot he rofv al uef ai rbootr e c e i v e dc as h bootr e c e i v e dc as h ???)( )(Chapter 1012 Exchange – Gain Situation Illustration (without mercial substance – some cash received): Queenan Corporation traded in used machinery with a book value of $60,000 (cost $110,000 less accumulated depreciation $50,000) and a fair value of $100,000. It received in exchange a machine with a fair value of $90,000 and cash of $10,000. Valuation Chapter 1013 Exchange – Gain Situation Illustration (without mercial substance – some cash received): The total gain on the exchange is puted as: Fair value of machine exchanged $100,000 Less: Book value of machine exchanged 60,000 Total gain $40,000 Because Queenan received $10,000 in cash, a partial gain is recognized as: The remaining $36,000 ($40,000$
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