Disposal of non current asset

shalinisharma
shalinisharma Settling In NicelyRegistered Posts: 25
Disposal of non current asset comes in SOFP or Income statement.

Comments

  • CeeJaySix
    CeeJaySix Well-Known Registered Posts: 645
    It affects both. Asset at cost and accumulated depreciation will both be reduced and proceeds increase bank (or cost if p/ex) in balance sheet, profit or loss on the sale goes in the P&L (disposals account brings together cost, depreciation and proceeds of sale to net off profit/loss).
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