Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are trade-ins of equipment considered non-monetary exchange transactions?

April 26, 2017equipment exchange non-monetary trade-ins transactions

0

Posted

Are trade-ins of equipment considered non-monetary exchange transactions?

1 Answer

0

Posted

A. No. Trade-ins are accounted for as a part of the acquisition in valuing the new asset according to required accounting guidelines and are not considered a separate non-monetary exchange transaction.