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The best solution for However because cash is of the fair value of the old asset only x of the realiz gain will actually be recogniz. If the amount of cash receiv is more than of the total assets receiv the exchange is treat as a cash sale and the entire difference between the fair value and the carrying amount of the old assets is record as a gain. If the carrying value of the old asset is greater than the fair value of the asset receiv then the entire loss is record and the new asset is record at the lower fair value.

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Journal Definition Examples and How France WhatsApp Number List to Make It Conclusion The journal recording process for exchange of fix assets must be carri out correctly depending on whether there is a gain or loss on the exchange of fix assets. If there is a loss on the exchange the new asset must be record at its market value. However if there is a gain from the exchange then the new asset is record at the amount of cash paid for the new asset plus the net book value of the old asset surrender.

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