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Re: Equipment trade

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July 31, 2016 11:27AM
You traded the old header with (ie.) $10,000 value for a newer header worth $10,000. Net effect on your books is $0's, but asset (machine) has changed. Also sets up a new depreciation schedule for the newer header, as the old one was probably depreciated out, therefore new cost basis.

Hopefully helpful,


Equipment trade

dklausmeyerJuly 30, 2016 02:03PM

Re: Equipment trade

Mitch KonenJuly 31, 2016 11:27AM

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