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Asset Disposal - Accounting notes

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Asset Disposal notes for grade 10 - grade 12 students. Notes on Asset Disposal steps as well as a few theory points for asset disposal

Institution
12th Grade
Course
Accounting









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Written for

Institution
12th Grade
Course
Accounting
Schooljaar
200
All documents for this subject (107)

Document information

Uploaded on
November 7, 2022
Number of pages
9
Written in
2022/2023
Type
Interview
Company
Unknown
Person
Unknown

Subjects

  • accounting notes
  • asset disposal
  • asset disposal grade 10
  • asset disposal grade 11
  • asset disposal grade 12
  • matric asset disposal
  • asset disposal notes
  • asset disposal accounting notes

Content preview

accounting
notes
OSAL
AS




S
ET
P

I S
D

, STEPS FOR ASSET DISPOSAL

1.
(cost)
DR - Asset Disposal
CR - Vehicles

2.
(current year depreciation)
DR - Depreciation
CR - Account depreciated

3.
DR - Account depreciated
CR - Asset Disposal

4.
(sold)
DR - Bank / Debtors / Creditors / Drawings / Donations /
Scrap Account / Insurance
CR - Asset Disposal

5.
(profit / loss)
DR - Asset Disposal
CR - Profit on Disposal

DR - Loss on Disposal
CR - Asset Disposal
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