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-   -   Entry for sale of fixed asset? (https://www.askmehelpdesk.com/showthread.php?t=562925)

  • Mar 17, 2011, 02:17 AM
    razakka
    entry for sale of fixed asset?
    we sold old fixxed asset on below book value 4315
  • Mar 17, 2011, 02:59 AM
    amy8903
    If assets are sold below book value than there will be a loss. So debit the amount you have received from sales along with the difference amount as loss on sale and credit the amount( book value) of the assets to show the deduction of assets from your ledger.

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