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There are many things that an electronic asset disposal service would do. An electronic disposal service is tasked with the removal of identity, and data erasure.

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12y ago

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What is realization account?

An account used to record the disposal of an asset or assets and to determine the profit or loss on the disposal. The principle of realization accounts are that they are debited with the book value of the asset and credited with the sale price of the asset. Any balance therefore represents the profit or loss on disposal.


What is the journal entry to write of an asset that is not completely depreciated?

[Debit] Accumulated Depreciation [Debit] Cash (If any) [Debit] Loss on disposal (if any) Credit Asset Credit Profit of disposal of asset (if any)


How does one dispose of an ekg machine?

To dispose of an EKG machine, first ensure that it is decommissioned and no longer in use. Follow your local regulations for electronic waste disposal, as EKG machines contain sensitive electronic components. Contact a certified electronic waste recycling facility or a medical equipment disposal service to ensure safe and environmentally responsible disposal. Additionally, consider removing any sensitive data or patient information stored on the device before disposal.


When is the restoration of an impairment loss permitted?

if the asset is hold for disposal


How do you calculate disposal of fixed assets?

[Debit] Accumulated depreciation [Debit] Loss on disposal (if any) [Credit] Asset [Credit] Profit on disposal (if any)


Where does loss on asset fall in the balance sheet or income statement?

Loss on Asset: It is shown under income statement as a expanse in the year of disposal of asset.


How can one purchase asset labels?

Asset labels, featuring bar codes to help label and track expensive equipment, can be purchased in pre-printed form or custom-made by a service such as Electronic Imaging Materials.


Which of the following is NOT an activity of the Asset Accounting sub-process?

Property disposal


When is a gain on disposal of an asset recorded?

A gain is recorded when the asset is sold for a price greater than the assets book value.


What is the journal entries for disposal of fixed asset?

cr asset account for cost price dr accumulated depreciation for asset depreciation cr asset sale account dr/cr profit/loss on asset account


What is the journal entry to record fixed asset disposals?

[Debit] Accululated Depreciation xxxx [Debit] Loss on disposal of asset xxxx [Credit] Asset account xxxx Entry 2 [debit] Profit and loss account xxxx [Credit] Loss on disposal of asset xxxx


What is the treatment of accumulated depreciation and depreciation in the event of asset disposal?

When the asset is disposed of the Accumulated Depreciation is subtracted from the cost of the asset. Journal Entries: If Sold at a Profit: Dr Accumulated Depreciation (All Depreciation) Dr Bank/ Recievable (Amount received for Asset) Cr Asset (Carrying Value on Balance Sheet) Cr Profit on Asset Disposal (Balancing Figure) If Sold at a Loss: Dr Accumulated Depreciation (All Depreciation) Dr Bank/ Recievable (Amount received for Asset) Dr Loss on Asset Disposal (Balancing Figure) Cr Asset (Carrying Value on Balance Sheet) Please note there may also be current year depreciation