Transcription of Example on Computation of Gain on Disposal of …
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Example: stock market
Example on Computation of Gain on Disposal of …
Accounting Entries for gain on Disposal of fixed AssetDebit CreditDR. Accumulated Depreciation (accumulated depreciation charged on the disposed fixed asset)$500DR. Bank (sales proceeds of fixed asset)$800CR. fixed Asset (cost of the disposed fixed asset)$1,000CR. gain on Disposal of fixed Asset $300 Total$1,300$1,300HK$Cost of fixed asset1,000 Less : Accumulated Depreciation500 Net Book Value of fixed Assets500 Less : Sales Proceeds800 gain on Disposal of fixed Asset300 Example Calculation of gain on Disposal of fixed AssetExample on Computation of gain on Disposal of fixed Assets
Accounting Entries for Gain on Disposal of Fixed Asset Debit Credit DR. Accumulated Depreciation (accumulated depreciation charged on the disposed fixed asset)
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