Ask Experts Questions for FREE Help !
Ask
    ashley568's Avatar
    ashley568 Posts: 34, Reputation: 3
    Junior Member
    		  
    #1

    Jun 13, 2008, 08:57 PM
    Discarding an asset
    Would you consider discarding an asset the same as retiring it?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Jun 13, 2008, 11:28 PM
    Um, probably. Presumably when someone says they're "discarding" it, they're meaning getting rid of it, as opposed to selling it. Retiring it is mean putting it out of use (whether it's literally gotten rid of or not), so it is still removed from the books at that point.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Fixed asset or Intangible asset [ 4 Answers ]

Is the U.S. Treasury Note. A Fixed or Intangible Assets.

Asset that was free [ 3 Answers ]

How do you record an asset that was free?

Asset Exchange [ 1 Answers ]

Melvin Motor Sales exchanged a car from its inventory for a computer to be used as a noncurrent operating asset. The following information relates to this exchange that took place on July 31, 2008: Carrying amount of the car... $30,000 Listed selling price of the car... 45,000 Fair value...

View more questions Search