Would you include the sales tax paid at the time of purchase of the asset in the debit line of the of this journal entry? Or should the sales tax paid be entered as a separate journal entry? Any help you can provide on this would be appreciated. Thanks. 1 Reply Sumner Level 1 ...
You can get more information about journal entry: https://quickbooks.intuit.com/community/Help-Articles/Record-a-journal-entry/td-p/203691. Also, you may find these articles helpful: Manage fixed assets using Fixed Asset Manager (FAM). Set up Fixed Asset Manager (FAM). Use ...
Fixed assets represent items a company will use for several years. Depreciation is the expense that companies report for using the asset. Fully depreciated assets indicate a company used an item until there was no financial value left. Accounting for ful
Journal entries to record the sale of a fixed asset with Section 179 deduction I have a piece of equipment that was purchased in March, 2015 for $7,035. We took a 100% Section 179 deduction on it in 2015. In October, 2018, we sold the equipment for $...
You can get more information about journal entry: https://quickbooks.intuit.com/community/Help-Articles/Record-a-journal-entry/td-p/203691. Also, you may find these articles helpful: Manage fixed assets using Fixed Asset Manager (FAM). Set up Fixed Asset Manager (FAM). Use Fixed Asset Ma...