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    mafi's Avatar
    mafi Posts: 1, Reputation: 1
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    #1

    Apr 20, 2008, 06:35 PM
    Exchange Of Land
    How exchange of should be diclosed in the financial statements
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Apr 21, 2008, 03:33 PM
    Are they equal value exchange or are there any boot involved? If they are equal in value then just credit the old asset and debit the new one, with corresponding accumulated depreciations. If there is boot, then need the entire problem with amounts.
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