Disposal of fixed asset

[Mike or Penny Novack]

>
>You haven't actually made any 'profit' as you didn't sell it for more 
>than 800.00.
>
>  
>
Look, this is a perfect example why we should limit advice to "how to do 
using gnucash" (as opposed to any other method of keeping books) rather 
than what we should be doing. If this is business accounting, the rest 
has been already deducted as an expense in prior years so yes, the 
excess of sale price over remaining value is a profit, or more 
precisely, a capital gain.

We should NOT be giving accounting/tax advice!

Michael