How To Account For Disposal Of Fixed Assets Whether It is Sold For Cash Or Traded in as Part Payment For Another Asset
Accounting Treatment For Disposal Of Fixed Asset When a fixed asset is disposed off: The accounting entry is to : Step 1: Debit : Asset Disposal Account Credit: Asset Account at Cost The purpose of this entry is to transfer the cost of the fixed asset to the asset disposal account Step 2: Debit: Provision for … Read more