Property, Plant and Equipment (IAS 16)

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Property, Plant and Equipment (IAS 16)

danishayub_76
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#3

03-31-2009, 06:01 PM

New Machine Dr. 26,000 (12+14)
Loss on Exchange Dr. 4,000 (12-16)
Party Payable Acc. Cr. 14,000 (32-18)
Book Value of Old Asst. Cr. 16,000

I have made the journal entry, but IAS 16 explains that such transactions shall be recorded at fair value unless the transaction lacks commercial substance or fair value of assets can't be obtained.

"Does it lacks commercial substance or not".

Best regards,

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Property, Plant and Equipment (IAS 16) - by danishayub_76 - 03-30-2009, 06:19 PM

[No subject] - by nakaiun - 03-31-2009, 04:52 PM

[No subject] - by danishayub_76 - 03-31-2009, 06:01 PM

[No subject] - by nakaiun - 03-31-2009, 07:17 PM

[No subject] - by kamranACA - 03-31-2009, 11:44 PM

[No subject] - by danishayub_76 - 04-01-2009, 06:53 PM

[No subject] - by kamranACA - 04-01-2009, 08:04 PM

[No subject] - by m_zeeshanuddin_sa - 04-13-2009, 05:43 PM

[No subject] - by danishayub_76 - 04-14-2009, 08:11 PM

[No subject] - by danishayub_76 - 04-14-2009, 08:14 PM

[No subject] - by m_zeeshanuddin_sa - 04-17-2009, 04:05 PM

[No subject] - by m_zeeshanuddin_sa - 04-20-2009, 01:07 PM

[No subject] - by danishayub_76 - 04-20-2009, 02:01 PM

[No subject] - by m_zeeshanuddin_sa - 04-20-2009, 02:38 PM

[No subject] - by danishayub_76 - 04-15-2011, 03:09 PM