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    hmj's Avatar
    hmj Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 8, 2009, 03:27 PM
    Sale of fully depreciated asset
    How do I account for the sale of an asset fully depreciate in the previous accounting year - i.e. no longer on asset register?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Oct 9, 2009, 02:58 AM

    Include the proceeds of the sold asset as
    Miscellaneous Income in the Profit and Loss
    Account.
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