Archives: Flashcards

Nonmonetary Exchange F16-08b

ASC 845 requires that fair value be used, to record a commercial substance nonmonetary exchange, unless 3 conditions apply. Name the three conditions.

By Marshall Blair |
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Nonmonetary Exchange F16-07b

What values are generally used to record a nonmonetary asset, acquired in a commercial substance exchange?

By Marshall Blair |
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Nonmonetary Exchange F16-06b

Provide the formula for computing the loss on a nonmonetary exchange.

By Marshall Blair |
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Nonmonetary Exchange F16-05b

Provide the formula for computing the gain on a nonmonetary asset.

By Marshall Blair |
DETAIL

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