DFS - DISPOSAL OF ASSET

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Can anyone help ? my mind went blank and i put the procceds on the
p & l with the turnover !! where should it have gone?
thought the exam was ok - disppointed lots i had revised didnt appear. Hop mess up with asset wont be the fail of the exam !! roll on tax on Friday i am exhausted!

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:DFS - DISPOSAL OF ASSET

    Disposal proceeds are part of the loss/profit on the sale of the asset as follows:

    Cost X
    Deprec. (X)
    Proceeds X
    Loss/Profit X

    You will only lose a couple of marks for that - don't worry too much about it.

    Steve

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