Dr: Loss on disposal Cr: PPE ➢ 如果是 sale of PPE → 计算 Gain/Loss on sale of PPE = Sales proceeds – carrying amount ➢ Record impairment loss Dr: Loss on impairment Cr: Accumulated depreciation ➢ Revaluation model: write up asset Dr: PPE Cr: Revaluation surplus ➢ Intangible ...
In the journal entry above, an expense has to be recorded to show the loss. And as a contra entry against this, we have to reduce our purchases account (it is purchases for theperiodic system of inventory) or inventory account (for theperpetual system). In the end of the day the debit...
And how do you record the journal entry for reversal of impairment? Impairment: When the fair market value of the asset is higher than its carrying value, then the asset impairment takes place. There is a requirement to test the asset...
Asset Impairment and Disposal
DISPOSAL METHOD: 6. Enter Disposal Method. (See User Defined Codes for system 12, record type ES) DESCRIPTION OVERRIDE: 7. Enter description to be used for the journal entry explanation. PRINT SELECTION: 8. Identify how to print asset number. 1 = Item Number (DEFAULT) 2 = Unit Numbe...
The disposal (sale) operation was performed for the fixed asset. Fewer than five years passed between the date when the fixed asset was put into operation and the disposal date. The fixed asset was sold to the affiliated customer. FA depreciation This tax register determines the amount of depr...
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An asterisk (*) in the left-most position of this field indicates that the account number should be taken from the worktable record. J E Offset J E Account The account number (OBJ.SUB) you want to use for the offset of the journal entry that is created from the column. An asterisk ...
who were sponsored by the Bahraini government—that this was a sports event, not a political one, were met with derision and journalists more familiar with interviewing superstars were diverted into covering protests because their political counterparts had been denied entry to the country (Fisk). ...
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