Definition Gain or Loss on Sale of Assets

Glossary: Gain or Loss on Sale of Assets This is where you account for assets you sell or dump. If you sell a vehicle, you have its value on that up to date list of assets you keep. You also have a record of how much it has been depreciated. You enter the cash you make off that sale in 1001, cash. Then you balance that entry with a credit to the asset account and a debit to the accumulated depreciation account, and whatever it takes to make those number balance is your gain, or loss, on that sale. Enter your email address below for Venture Capital and Business Planning information. Business Plan Consulting Definition: Gain or Loss on Sale of Assets Click here for more Gain or Loss on Sale of Assets / Dictionary of Terms If you need assistance in developing a business plan, our staff of industry leading consultants can assist you in preparing a winning presentation. Contact us for a business plan quote to learn more about how we define Gain or Loss on Sale of Assets and how we can help you complete your business plan today. Additional terms to learn about Gain or Loss on Sale of Assets definitions Dictionary: Gain or Loss on Sale of Assets business plan definition - © 2001-2004 HJ Ventures International, Inc.