How to account for selling fixed assets:
To account for selling fixed assets,
Borrow: Fixed Assets Liquidation,
Borrow: Accumulated Depreciation,
Borrow: Provision for Impairment of Fixed Assets,
Credit: Fixed Assets,
Borrow: Bank Deposits.
credit: Fixed Assets Liquidation,
credit: Taxes Payable - VAT Payable - Sales Tax,
debit: Gain or Loss on Disposal of Assets,
credit: Liquidation of Fixed Assets, and make the opposite entry if the sale is profitable.
Fixed asset liquidation is due to wear and tear, suffered a very disaster and accident and loss of production capacity, or because of the old and outdated, must be eliminated to update the fixed assets, the appraisal of the appraisal, scrapping, write-off of assets, deal with the residual value of the work of the general term.
Fixed assets include:
1, houses and buildings, refers to the property rights belonging to the enterprise all houses and buildings.
2, general office equipment, refers to the equipment commonly used by the enterprise in office and affairs.
3, special equipment, means all the equipment belonging to the enterprise specifically for a particular job.
4, cultural relics and displays, refers to the museums, exhibition halls and other cultural institutions of various cultural relics and displays.
5. Books, refers to the books of specialized libraries, cultural halls and business books of the units.
6. Transportation equipment refers to all kinds of transportation tools used in the logistics sector.
7, machinery and equipment, mainly used by the enterprise logistics department for its own maintenance of machine tools, power machines, tools, etc. and standby generators, etc., as well as counting instruments, testing instruments and hospital medical equipment and equipment.
8, other fixed assets, refers to the fixed assets not included in the above categories. The competent authorities can be divided appropriately according to the specific circumstances, but also the above categories can be appropriately subdivided and increased categories.