I have an asset worth $222,000
Depreciated to date is $121,525

Balance to be depreciated is $101,000

However, the asset will be sold for $12,804

I am unsure of how to book the Net loss of the sale of the asset (222,007-accumulated deprec 121,525 - The sale of the asset 12,804)

How do I get the Asset, the depreciation off the balance sheet?

Could you help. Also typically where does the entry hit on the p&L does it go against revenue or under G&A expenses?

Dr. Accumulated Depreciation
Dr. Cash Received
Dr. Loss on Sale of Asset
Cr. Asset

It would be categorized in a "non-operating" section of your income statement. There is not set in stone rule for it, but it should not be grouped with the expenses that your day-to-day business incurs since this is not related to day-to-day activities of running your business.

It should b shown as an impairment loss in your P&L account with an amount of loss, unless u have previously charged any increase to Equity.

it should b shown as an impairment loss in your P&L account with an amount of loss, unless u have previously charged any increase to Equity.

You cannot charge an impairment loss for an asset you no longer retain.

Cr asset account
Dr asset disposal
Dr accum depreciation
Cr asset dispossal
Dr cash/bank account
Cr asset disposal
Balance the asset disposal account to identify profit/loss
In case of a loss
Cr asset disposal
Dr loss on sale of asset
Cr loss on sale of asset
Dr profit & loss account