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    brinicnat's Avatar
    brinicnat Posts: 1, Reputation: 1
    New Member

    Oct 27, 2006, 11:08 AM
    How does the sale of a fixed asset affect financial statement
    Am struggling with how to post an entry on the sale of a fixed asset-if the asset was purchsed for 50,000 and there is still 25,000 owed on it and I have sold it for 40,000 how do I post this and what accounts are affected-is this only a balance sheet issue or does it affect an income account since I only owe 25,000 and am gaining 15,000?
    smmdyusuf's Avatar
    smmdyusuf Posts: 1, Reputation: 1
    New Member

    Jul 12, 2010, 06:10 AM
    Owed means? Loan or depreciation.
    Write me [email protected]
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member

    Jul 18, 2010, 04:44 AM

    smmdyusuf, please do not invite people to email you privately for answers to their questions. Unless there is a possible pirvacy issue at stake, all answers are to be shared with the community.

    Not to mention that the thread is 4 years old and I doubt the poster cares anymore.

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