In this series, Academic Expert Carol Sargent introduces us to Disposing of Assets, the fifth section of her Depreciation Super-Series. In this fifth part, Carol explains what the process is to follow when disposing of an asset; how to calculate if you end up with a loss or profit; and finally what the journal entries look like when trying to coordinate your balance sheet. This video lecture is ideal for any students enrolled in college or university level accounting or business programs.
In this series: 2 Videos | 00:07:48 Total Length
An example of disposing of a depreciated asset is solved, and the special case of exchanging an asset for a "like" or similar asset is touched on.