Depreciation and Disposal of Fixed Assets

[@sallykass1335]

Thank you so much. I'm in grade 11 and was literally thinking of dropping accounting. Thank you ❤️❤️❤️❤️

[@Drinkwater05]

I feel your pain😂😂💔

[@poweringpossibilities]

Im also in grade 11

[@onthewaytoview]

Drop untill you start understanding it

[@rliy001]

These are the actual real life useful things that we take from school.
All those other things like Pythagoras, area of triangle etc etc are utter rubbish.
Trust me on this one. I been to school many many moons ago.
I'm here because I'm trying to figure out how I work out my tax this year as I owned and sold a investment property through a company.
These are like gold. I wished I did accounting and economics and other things that are useful in real life
Pls don't drop accounting. You are going to need it in life. Well, ofcoz you can pay an accountant one gazillion dollars to do your taxes. That's the alternate

[@ratladifinger578]

I know that pain

[@samanta8994]

Thank you so much. You made this a lot simpler and easier. The other TH-cam videos are so bad and hard to understand, but you made it so simple. Thank you!

[@sbee1682]

Thank you a million for posting this!!! So easy to comprehend. I'm doing reconstructing of ledger accounts - including disposal accounts - for the first time in diploma accounting. I had no idea what a disposal account was until I stumbled across this video. Amazing. Thanks for keeping it simple.

[@LeMale96]

You sir are the real MVP

[@kaustubh.sharma]

it's not CSGO

[@tiaanlorenzen7778]

Nice

[@pacificshabz]

thank you million much ...you made it easy like 1+1=2 , big fan

[@RameshR-ui9yt]

+pacificshabz Thanks for your comment I'm so glad it was helpful and easy to understand. Good luck.

[@salahaddin2009]

Can you do a video on revaluation on assets for property, appreciating and depreciating

[@mhretfshaye9573]

Thanks very much

[@hasvinvictor7146]

Best video to watch on Disposal of Fixed Assets. Thank you so much sir!!!

[@joliekoo304]

THANK YOU SO SO MUCH! I have a test tomorrow and this really helped me understand ~:)

[@willser29]

Great video. Simple and easy to follow for student, thank you!

[@deborahking3532]

Awesome teaching, you teaching is simple and understanding. Thank you.

[@repollo039]

THANK YOU SOOOO MUCH I WAS STUCK ON THIS CHAPTER FOR A WHOLE WEEK. BUT YOU MADE IT SO EASY!!!!
GOD BLESS!!

[@mrsomera2293]

Is this depreciation truest or fake (

[@imsaraooi]

Thank you for your sharing! This is truly clear and straightforward to understand.

[@helentudway-cains5366]

Excellent Tutorial. Thank you for taking the time to create this.

[@olubukolaalayande2428]

Thank you for taking your time to explain with simplicity

[@caroleenacorredor3836]

Thank you very much!! What a simple and brilliant explanation!

[@xchionali2489]

Excellent explaination

[@nelaondungula6335]

Thank you so much now am certain I'll pass my exams❤️❤️🙏such an easy way of explaining

[@JohnB-pm5sy]

Thank you, needed a refresher, school was a while ago...

[@elitecarpetcleaningservice1077]

Thank for the video. I have been searching for the answer you showed.👍👍👍

[@MrMaddog786]

Thank you so much, had my exam today and the only reason i passed was because of your channel

[@Aj_cl]

Great video for what used to be for me a complicated concept!

[@jarradsingh5219]

Thank you, very clear explanation.

[@chanvatey1222]

Thank you a lot sir ! My exam is in one week and you have saved my life!

[@asakuz]

That is very helpful and big THANKS to you for simplicity

[@ross7646]

Not all hero’s wear capes

[@CAtanushri]

thank you so much! blessings from India! :)

[@nadiabezuidenhout4512]

Definitely explained it a lot better than my accounting lecturer!! Lol

[@sadifrahman9288]

What an amazing lecturer !!!!

[@PictorialVibes]

Thank you so much!

[@anthonyvazquez8742]

Great video! Clear explanation regarding a tricky topic. Great use of examples

[@alikhaliqdina9365]

Explained it so well. Thank you Sir

[@YusufAli-69]

Ur awesome so simple explanation

[@nadamuhammad6831]

Thank you so much, this was really helpful ‼️

[@moleferatsoana1160]

I have never commented on a video on TH-cam but I must say thank you for that, very helpful indeed. What do you do when assets were damaged in fire and can't be sold?

[@anisaissa4319]

Molefe Lebogang if the asset was insured against fire then it has it accounting treatment

[@TheBenWTF]

Really useful video, thanks very much!

[@lenalarina59]

In love with your teaching technique😍

[@jackfinn5907]

Good Northern Ireland man cheers :) very well explained

[@ramzimuhammed5538]

really great help sir, thanks

[@deswilson4690]

Thank you, you have made that so understandable, very helpful for my AAT Advanced bookkeeping.
Hope you post more.

[@tausal1]

Excellent explanation!

[@mebrakmisgina6937]

thank you for your clear demonstration.

[@ramamartin]

Thanks. Easy to understand and remember

[@rasseleltahhan2076]

Thanks, good explanation.

[@manalashraf6544]

Very helpful lecture

[@sheerazaziz7027]

Thanks, I just got the explanation on the last day before test...

[@user-jt2jl7vz3s]

thank you!!! 12 hours & i will be in the exam room!

[@brindleyadolphus4905]

This comment gives me anxiety hahaha

[@justjames1111]

T accounts are great. Good explanation.

[@nevith2517]

Sir you are legend. thnx alot

[@dwainalfred4151]

You really made it easy

[@AlexSikander1]

I was struggling to understand but you made it so easy

[@ETHBTC2023news]

Thank you very much, a good clear explanation

[@suhrobrajabov5484]

thank you sir it was really very exact and useful

[@kwameamoah5600]

Very helpful. Thanks

[@nathanl7459]

Your video has been wonderful and very informative 👍 I just have one question, 3:57 why would the $8000 be put on the CR side of the Asset disposal account (t account)?

[@antman6005]

Great explanation thanks heaps

[@mubasharaslam7082]

Tnx a lot... It helped me a lot

[@ahteshamkhan3975]

Thanks that's a great explanation

[@Aliens4world]

U made it so simple….👍👍

[@petersmith5978]

This has helped me so much! Thank you!

[@ganweijun4303]

Thanks Mate! Great Video

[@threesisters2944]

Thank you so much. I understood well. 🌸

[@mytutor3859]

Thank you, sir... I now understood it all.

[@rosegrace9151]

Good video. Thank you

[@jangjerdum6523]

Very helpful

[@easyaccounting778]

good explanation

[@apurvapachpor2810]

thanks. very helpful

[@lakshikawaruni6256]

Thank you so much. this solved lot of questions i had

[@TheStereo941]

Could you do an updated version where dates are used? thanks- great video

[@hiviamunugama]

Thanks a lot mate. Helped heaps.

[@nanon1004]

i found this very helpful and easy to understand, thank you so much :)

[@JustinBieberFan957]

Thank you. Very useful indeed!

[@gymstopofficial]

Do you happen to have a website?

[@jenniferlaw7648]

This helps sosososososo much thank you!!

[@RameshR-ui9yt]

Thanks - glad it helped :-)

[@nurulafiqah3112]

Yes this helps me too !! I didn't know why I find the way my lecturer explained it far more complicated than his explanation.

[@sudeshnaghodke4668]

Thank you sharing

[@ranaahmed6869]

thank youu! u made that easy as a piece of cake!
but im just confused about one small thing, if its value 10k and we sold it for 14k those extra 4k are considered revenue? am i wrong?

[@shadybaby5309]

yep it is but not as revenue, it`s recognized as gain on the disposals on the P/L

[@NickLiang]

Not revenue as such as this is sales of inventory. Like shady said it is a gain on disposals which credits income.

[@khairulikhwanm.9537]

So what happen whet they are only disposing part of the assets? How would we find the accumulated depreciation for that particular assets especially when the depreciation is monthly basis.

[@annak4314]

Hi,
Do we need one disposal account for all assets to be disposed over time OR every asset gets its own disposal account?
And what type of account is it when first created (asset/ liability/ income..)?
Thanks

[@puddinluvmusic1321]

Thanks really helpful 😊

[@anjayvarghese3002]

Thank you sir!

[@Ey3facts]

Thank you very much you made me understand everything ❤️

[@flamezilla]

Thanks a lot Sir!

[@daksh3764]

Thank you mate

[@esinamakorli8616]

Helpful
Thnks

[@barbaarintabulshada4409]

Thank you so much. Actually I did benefit

[@doreenkathure8084]

Thank you so much,

[@alexandermedina1636]

great vid

[@markasiimwe7458]

thank you so much really appreciate it

[@christopherbonnar355]

Would you do a similar example of revaluation account

[@kylezinho_]

Why do you credit the income statement when you make a profit and debit it when you make a loss? I thought debit was when you get money and credit is when you lose money.

[@ahmedadeeb312]

Thank you so much

[@AlexBunyan1]

thanks so much!!! even better than kaplan !

[@edmontonprincess]

what happens to depreciation expense account?

[@jacksingarajah]

Did you credit the vehicle account with 20,000 because it's not there anymore? correct?

[@stephencastillo7914]

yes

[@subajinyanpalakan1291]

1000 thanks,

[@NoOne-jy6mc]

Since Australian businesses can buy 30k (currently 150k) assets with 100% instant depreciation, my question is: Is it legal to buy a 30k business asset (car, machine, etc.), and then sell it 1 year later to a private individual for well below the asset's value (i.e. only $1)? The advantage is that the business can claim the 30k asset as an instant tax deduction (so the business ends up paying less tax or even no tax at all), and the next year, the private individual can acquire something of a high value for almost free. Another potential benefit is that the business now has no assets, so in the odd chance it is sued, the asset is no longer at risk because it is privately owned. When I say "business", I mean "Pty Ltd company", definitely not sole trader/partnership of course. It seems smart and legal, but am I missing something? Also another question: Instead of selling 1 year later, what about 1 day later? Depreciation is instant and 100%, right? So can it be sold for $1 even the next day then? I know that selling a vehicle means the buyer needs to pay about 3% stamp duty, but that wouldn't apply to other assets like a machine, or carport, or computer, or solar panels, or an irrigation dam, etc, right?

[@xsauce3858]

thank you

[@baelicious4583]

can I know why gain is put on credit at income statement?

[@tense.1]

thanks 👍

[@muhammedmishabkp7077]

Thank you 😊

[@c4mm]

Hero

[@pimvanolffen]

Promoted from NPV to MVP !!