Web Results

How do I write off a fixed asset? - Questions & Answers ...

www.accountingtools.com/questions-and-answers/how-do-i-write-off-a-fixed-asset.html

Nov 7, 2010 ... A write off involves removing all traces of the fixed asset from the balance sheet, ... If the asset is fully depreciated, that is the extent of the entry. ... The second scenario arises when you sell an asset, so that you receive cash ...

What is the accounting for a fully depreciated asset? - Questions ...

www.accountingtools.com/questions-and-answers/what-is-the-accounting-for-a-fully-depreciated-asset.html

May 17, 2012 ... A fixed asset is fully depreciated when its original recorded cost, less ... and is fully depreciated, there is no additional accounting entry at all. ... How do I write off a fixed asset? ... There are no comments for this journal entry.

Accounting Procedure for Taking Assets off the Books | Business ...

yourbusiness.azcentral.com/accounting-procedure-taking-assets-off-books-21928.html

Writing off an asset removes its original cost and all depreciation from the balance sheet. ... and Amortization · How to Capitalize Sales Tax in a Journal Entry ... What Is the Entry to Remove Equipment That Is Sold Before it Is Fully Depreciated?

What is the entry to remove equipment that is sold before it is fully ...

www.accountingcoach.com/blog/entry-to-remove-equipment

The first entry will be a debit to Depreciation Expense and a credit to Accumulated ... is traded-in or exchanged for another asset, the second journal entry will be ...

What is the accounting treatment for an asset that is fully depreciated ...

www.accountingcoach.com/blog/fully-depreciated-assets

There will be no depreciation expense recorded after the asset is fully depreciated. No entry is required until the asset is disposed of through retirement, sale, ...

Fixed Assets Journal Entries | Double Entry Bookkeeping

www.double-entry-bookkeeping.com/fixed-assets/fixed-assets-journal-entries/

Jan 6, 2016 ... A quick reference for fixed assets journal entries, setting out the most ... To remove a fully depreciated asset ... Asset write off journal entry ...

What are the accounting entries for a fully depreciated car ...

www.accountingcoach.com/blog/entries-fully-depreciated-car

If you sell the car after it is fully depreciated, you 1) debit Cash for the amount received, ... Depreciation for the car's accumulated depreciation, 3) credit the asset ...

Disposal of Fixed Assets - What are the Journal Entries? | Double ...

www.double-entry-bookkeeping.com/fixed-assets/disposal-of-fixed-assets/

Jun 24, 2016 ... The fixed assets were sold for 2,000. The fixed assets were sold for 4,500 ... Net Book Value = Original Cost – Accumulated Depreciation. In this example the net book value ... Disposal of Fixed Assets Journal EntryWrite Off ...

Disposal of Fixed Asset | Aplos Software

www.aplos.com/blog/p/1564/fund-accounting/disposal-fixed-asset/

Aug 7, 2012 ... This blog shows you the journal entry to dispose of a fixed asset with ... that asset has outlived its usefulness, how do you get the asset off your books? It's important to track the asset and the method of disposal (sold, ... This may happens when the asset is not fully depreciated and no cash is exchanged.

Is there any tax effect when a fully depreciated asset is sold or taken ...

www.quora.com/Is-there-any-tax-effect-when-a-fully-depreciated-asset-is-sold-or-taken-off-of-the-books

After an asset has been fully depreciated, there are no additional tax implications on an ... Fully depreciated means that aggregate tax deductions (taken over the ... for calculating year end depreciation and passing the journal entry to a sec.

More Info

Fixed Asset Disposal Accounting - AccountingTools

www.accountingtools.com

If the asset is fully depreciated, then that is the extent of your entry. ... situation is to write off a fixed asset that has not yet been completely depreciated. ... The second scenario arises when you sell an asset, so that you receive cash (or some ...

What is the journal entry to write off an asset? | Reference.com

www.reference.com

The journal entry is as follows: Credit (asset to be written off), Debit (accumulated ... If the asset has not completely depreciated at the moment of disposal, use an ... account to represent fully the effects of the write-off on shareholder's equity.

Disposal of Fixed Assets | Journal Entries | Examples

accountingexplained.com

Disposal of fixed assets is accounted for by removing the cost of the asset and the related accumulated depreciation from balance sheet, recording ... the asset to another party or when the asset is no longer operational and is disposed off. ... When a fixed asset is sold for an amount higher than its carrying amount at the date ....