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    masud Posts: 26, Reputation: 2
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    Apr 22, 2007, 05:35 PM
    How to Treat Scrap Asset
    Say Car is scrapped during the year ended (31/12/2003), Original Cost £7000 and had a net book value of £ 2000 as at 31/12/2002. The asset is not depreciated during the year of their disposal.

    I don't know what would be the double entry for this because its new for me.

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    Thanks

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