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-   -   Fixed asset disposition (https://www.askmehelpdesk.com/showthread.php?t=293752)

  • Dec 18, 2008, 09:51 PM
    beckyntran
    Fixed asset disposition
    How do I record Fixed asset disposal when assets is not fully depreciated (non cash - just somewhat a write off)

    Equip 15,000.00
    Accum 10,000.00
    NBV 5,000.00

    FMV??

    Dr CR
    What do I debit??
    Accum 10K
    Equip 15K
    Gain on Sale 5K
  • Dec 20, 2008, 10:49 AM
    pready

    Just Debit the Accumulated Deprection for 10,000
    Debit Loss on Disposal of Equipment for 5,000
    Credit Equipment for 15,000

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