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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????
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Ganeshbabu K

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Ganeshbabu K (Expert)
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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