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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 ...

Fixed Asset Disposal Accounting - AccountingTools

www.accountingtools.com/fixed-asset-disposal-accountin

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 accounting for a fully depreciated asset? - Questions ...

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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.

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

www.reference.com/business-finance/journal-entry-write-off-asset-6aba721efc746d4d

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 - What are the Journal Entries? | Double ...

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

Jul 11, 2013 ... Net Book Value = Original Cost – Accumulated Depreciation. In this example the net book ... Disposal of Fixed Assets Journal EntryWrite Off ... In the second part of the question, the asset is sold for 2,000. Since the asset ...

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 ... What Is the Entry to Remove Equipment That Is Sold Before it Is Fully Depreciated?

What Happens to a Depreciated Item When It Is Fully Depreciated ...

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A fully depreciated asset can have an accounting value of zero, but that hardly ... of $45,000 after one year, but if the company chose to sell it, it might get only $35,000. ... The company can't revalue or "write up" the book value of the asset.

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

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

... is sold for cash before it is fully depreciated, there will be two journal entries: ... is traded-in or exchanged for another asset, the second journal entry will be ...

How are fixed assets written off? - Quora

www.quora.com/How-are-fixed-assets-written-off

May 23, 2016 ... When you write off fixed asset the entry is to : DR Loss of disposal of asset ... are the same then your entry is in balance and you are done. This would be the case for a fully-depreciated asset, with zero NBV (net book value).

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

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

An asset that is fully depreciated and continues to be used in the business will ... What is the entry to remove equipment that is sold before it is fully depreciated?