FRA - June 2008

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jackiepowell
jackiepowell Registered Posts: 72 Regular contributor ⭐
in AAT Level 3 (Level 6 in Scotland)
Can anyone help me how to enter the disposal of a fixed asset in to the adjustments of the TB?
Task 2.1 and 2.2

Thanks
Jackie :crying:

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  • bagpuss3008
    bagpuss3008 Registered Posts: 32 Regular contributor ⭐
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    Hi

    I think I would:
    1. Get rid of the whole amount of the fixed asset: Cr Fixed asset 1700, dr disposal 1700
    2. Get rid of full depreciaiton: dr accumualted depreciation, cr disposal
    3. Cr bank 1000, dr fixed assets
    4. Dr disposal with part ex allowance and cr the fixed asset. This makes the total fixed asset cost of 1300

    Rule of thumb, get rid of the asset and the accumualted deprecaiton then start on the new item.

    HTH

    Sarah

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