How the loss or gain on the sale of fixed asset will be adjusted
Whether it will be deducted from gross profit or owner's equitiey?
Thanks
Best regds
Gulam rasool
How the loss or gain on the sale of fixed asset will be adjusted
Whether it will be deducted from gross profit or owner's equitiey?
Thanks
Best regds
Gulam rasool
Gross profit isn't a gain on the sale of a fixed assets - it's the amount you sold inventory for, above what your cost was. Those aren't the same thing, so it has nothing to do with gross profit.
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