Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Example of Asset disposal recorded in the appropriate books (https://www.askmehelpdesk.com/showthread.php?t=448739)

  • Feb 18, 2010, 02:54 PM
    Nzaz99
    Example of Asset disposal recorded in the appropriate books
    I would like you to show me how asset disposal is recorded in the appropriate books with the aid of these books and not just explanations.
  • Feb 19, 2010, 06:02 PM
    morgaine300

    What do you mean by "with the aid of these books." We don't have your books.

    You catch up depreciation to current.

    The entry then consists of debiting accumulated depreciation to reverse that out, crediting the asset to reverse that out, and the difference is a debit to a loss. That's assuming you're literally disposing of it and not selling it.

  • All times are GMT -7. The time now is 03:38 AM.