Grade 12 Asset Disposal Notes

Asset Disposal I




&
I
Dead Clic
Debit -
Credit
expense liability
Asset income

Drawings Capital



Asset Disposal
↳ -

ve asset
t



Asset
-




~
Lying Assets Selling Assets Account is used for calculations ,
its not
- A/of/2, off account
its a
closing



* Asset (cash- (PJ) (Bank)
Buying a new

*
Buying a new Asset (credit-(J) (Creditors Control)
over a

few
LE -Ve A > years
-

Depreciation
- -

=
Acc Depreciation
.
-




+) I
GJ X
Ac .


depanc Depreciation
vehicles/equipment




Calculate each Asset
transaction/entry in ledger for depreciation
DO NOT add all assets
together , then calculate depreciation



+A
-

+
Profit rid of asset
-



Getting :

Lt
-




Trade-in - CJ




I
creditors Control

+ loss
-




Cash- Bank CRJ
+ D
-




Debtors Control - DJ
credit




&