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Disposal of Fixed Assets | Sale of Fixed Assets | Financial Accounting Course CPA Exam FAR ch 8 p 5 

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In this video, I explain disposal of fixed assets. Disposal of fixed assets is accounted for by removing cost of the asset and any related accumulated depreciation and accumulated impairment losses from balance sheet, recording receipt of cash and recognizing any resulting gain or loss in income statement.
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28 авг 2024

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Комментарии : 8   
@agonlinetutor3700
@agonlinetutor3700 4 года назад
basic principles are well explained in this video.
@AccountingLectures
@AccountingLectures 4 года назад
You are most welcome. Please subscribe and share. If you want to access more resources, check my website: ✔farhatlectures.com/ ✔Instagram: @farhatlectures ✔ Linkedin: www.linkedin.com/in/professorfarhat/ ✔Facebook:@accountinglectures ✔Twitter: @farhatlectures 🎤Email: Mansour.farhat@gmail.com
@agonlinetutor3700
@agonlinetutor3700 4 года назад
@@AccountingLectures I did subscribe sir.
@agonlinetutor3700
@agonlinetutor3700 4 года назад
Need your guidance to become a successful tutor on RU-vid. Appreciate if you can share some tips..
@effeerren934
@effeerren934 4 месяца назад
Sorry do I have to add the vat to calculate gain or loss?
@Jonida1
@Jonida1 Год назад
With what value it is activated in the books a returned from the sale after 3 months of a used vehicle? It is already writte off in the books.
@AliKhan-rx7qt
@AliKhan-rx7qt 2 года назад
Hi farhat if I just had to dispose off the asset without gain or loss and no cash or received or paid, what will be the entry???
@AccountingLectures
@AccountingLectures 2 года назад
Debit accumulated depreciation and credit the asset. Please take a look at my website: www.farhatlecures.com
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