Disposal of fixed asset

[Stein Erik Berget]

On Mon, 27 Feb 2012 17:57:44 +0100, Axel Essbaum <axel at essbaum.com> wrote:

>
> I'm trying to understand how to handle disposal of a fixed asset in  
> Gnucash.

<snip />

> Details:
>
> I have an old laptop for my business.  It was purchased for $800 on  
> 1.1.2009.  Its value today (after depreciation) is $161.  I just sold it  
> for $200.  I understand I have $39 of profit but I really have no idea  
> how to record it.  Is the $200 considered income?  Like, should it come  
> from a "Sale of assets" income account?

I'm not an accountant, but I would do it like this:

As seen from the 'bank account':
			Deposit		Withdraw
asset:bank account: 	$200
  asset:oldcomputer:                	$161
income:sold off asset:					  $39


This would result in $200 in our bank account as it would in real life,  
and you would also see your 'asset account' for the computer you just sold  
go to $0 and you will see a 'profit' in one 'income' account somewhere.

Hope this helps! If any more pointers are needed, let me know! :-D Have a  
happy accounting day :-P

-- 
Stein Erik