Disposal of fixed asset


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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2013 HI,

can anybody let me know, what entry should be passed for discarding of assets with details????

19 September 2013 what is the original cost of asset,accumulated depreciation on asset and what about disposal value
.
.
entry will be

Dr.CashA/c
Dr.Acc.dep''
Cr.Gain on disposal
Cr.AssetA/c

(being asset disposed with a gain)

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2013 There is no gain in this and please provide me the details about the accounts for Gain/Loss on disposal....

Thanks!


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