Asset Disposal (Fixed Asset Realisation) Explained with T Accounts Example

[@KiingMae]

YOU ARE A LIFE SAVER!!!!!! XOXOX KEEP DOING THIS PLEASE ITS VERY HELPFUL!

[@Counttuts]

Good day, thank you for the kind feedback, much appreciated.

[@chyna1819]

it is indeed very helpful

[@stardustangel7115]

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[@chanteljoe1750]

100%… this is a South African😅

[@kryptengaming7695]

I am saved for my test tom thx a lot my teachers can’t teach ngl

[@Minnie._.savage]

😊😊0

[@davidbaldwin3140]

I am not by any means an accounting genius, and I found this clear and easy to follow. Everything made sense. Thank you!

[@stardustangel7115]

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[@hichsonmcthebe9669]

Maybe the best accounting lessons on TH-cam. Thank you Sir.

[@CJr_M]

The way you explain and illustrate... absolute legend!

[@stardustangel7115]

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[@Sakhile_11]

Our lecture introduced us to this topic, i was so stressed, i didn't understand anything , but i remembered i follow you❤🙌life saver.

[@BeingBabalwa]

id dont usually comment on videos but i just had to on this one,my lecturer has been teaching this for like two weeks now and this is literally the first time i understand anything to do with depreciation or asset disposal,thank you so much😇

[@hazeldube-bj5hx]

Thank you very much you have made life easy for me ❤I couldn’t understand this part but now it’s crystal clear…

[@naledimoropa7944]

Thank you sooo much i finally understand after soo many mistakes i made i thought this was hard till i watched this video i can't thank you enough, this was really helpful

[@thulisiwethobekasibiya2986]

Thank you so much you are a life saver I’m writing my test tomorrow at 3 I hope I will remember your lesson 🙌

[@Counttuts]

Best of luck!

[@dalitsokavalo2401]

❤ so easy to understand thank you I was really having difficulties in accounting

[@fatimaeve290]

Please do a video for the note(note 3)
And another example but this time with assets bought during the accounting period

[@ROSEMARYEZEUCHENNE]

I really love your videos. Very easy to understand. Thanks a lot for the good job!

[@HebrewIsraelite6737]

Excellent explanation, I'm writing my Test on Friday 13 August 2021, you are a life saver

[@raynetter5943]

Me too😭

[@HebrewIsraelite6737]

@Reynette R, all the best

[@nireshnigovender6094]

🙏🙏🙏🙏🙏 thank you for your insight I’m so glad I came across your channel 👌👌👌👌

[@iviwe-imithandazonikita2802]

Thank you so much Sir keep on doing it we are waiting for more

[@kyledarleywaddilove2973]

Great explanation helped so much, keep at this it is much needed!!

[@Counttuts]

Thank you Kyle. Appreciated.

[@somebye3sandiago623]

I'm facing my O/L NEXT YEAR,TNX ALOTTTTTT

[@patlophamotse5836]

Thank you so much, I'm writing acc tomorrow.

[@l.muwuyamuwuya9326]

Excellent explanation. Thank you

[@sasthirabeebaasoo4617]

Absolutely helpful and well explained! Please can you do a liquidation account

[@Tshiamo_Setshedi]

Absolutely lovely refresher..

[@davidChibwe-pp8fi]

Sir the same way you have explained the diminished balance method help us to explain straight method. Thank you are really helping me

[@tilanavanschalkwyk2475]

Love your videos. Please do a video accrual concept and matching and prudence. Much appreciate your help! Thanks a lot

[@princekolbe]

Thank u.. you explain it better than my teacher

[@luthandononkazimulozulu3994]

100% sure this is a South African accent👀😂

[@teclasicbaldi]

i think is indian

[@BuhlebzNetwork]

Caleb is a South African and he is very helpful he takes his job very serious I remember the day I called him he was in the office on the weekend

[@Emily-rj1ij]

@@BuhlebzNetwork 😂😂

[@leematthews7416]

Of course it is, he's using Rands 😂

[@wannabeme286]

Great, you r rit bruh ! I think too 😅

[@ross7646]

Not all hero’s wear capes

[@Counttuts]

Thank you :)

[@drbailey9349]

Thank you so much, will definitely share it with my friends

[@Counttuts]

Much appreciated.

[@nafeessachachia7322]

You explain it really well. However, I thought the 73,440 would have been a debit as it is money in the bank as it is a sale. Bank would be credited if it was a purchase..... ?

[@abookishworld1]

this video was helpful. do you have any videos about the profit/loss on sale of asset? I'm really struggling with that :(

[@amarbenpatel8746]

This video is very good useful for explaining

[@mpilo_mhlongo]

Thank you so much.
Can you please do an example where there is 2 equipment Assets. Where the other equipment is sold and one is not sold

[@nonkanyisondlovu5069]

Thank you sir this is powerful and helpful

[@bumblebeess9515]

Do you have an example of this on college level? I know this from highschool but in college they dont show it to us this way and its so frustrating

[@Just.Thandoo]

Lesson was very helpful thank you

[@luqmaanr5965]

Great video
Helped alot

[@herestomydownfall]

I went to an FNB atm and when depositing cash it asked for source of the funds. I saw "asset disposal" as one of the reasons. In this case does that just mean I got the cash from something that I owned and sold?

[@AlemaRonald-ds1vv]

This is wonderful

[@Thewildflowerberry_2023]

This helped so much! thank you!!! My lecturer just doesn't teach us :(

[@LuyoloxSofuthe]

this really helped.thank you

[@VanessaGatsheni-kn8id]

Thank you so much it was helpful

[@AmahleAkhona-v1m]

Thanks alot it really helped me 👍

[@bikithembasirayi]

how do you calculate whether the business has made a profit or loss on the disposal of asset?? please help

[@lloydchigodora4534]

fantastic presentation

[@amelyjones7241]

Let me subscribe ASAP. This will be a great channel on my new accounting journey. Thank you so very much

[@Counttuts]

Thank you for the support.

[@fatimaeve290]

This video was great👍🏽!!

[@MatamuAmbrosius-jt8dk]

This video is helpful 🙏

[@suzanmoepshe]

So if the equipment was bought on credit what would the details say

[@SivuyiseMankomo]

If the asset is traded in how are we going to record on T account of Asset Disposal

[@enhleteboho]

thank you really helped me but i have this exercise
Printer bought 1 June 2018 for 90 000 was sold for cash on 31 august 2021 at carry value. A new printer was bought for 120 000 on 1 September 2021
Depreciation on equipment is written of at 20% per annum
1. calculate accumulated depreciation and carry value for the disposal of the printer
2. calculate depreciation on equipment
3. Assets disposal on the printer.

[@OratilweMoagi-nq8hp]

What happens if there is more then one equipment sold for example if they sold a vehicle and equipment and a building

[@lusiamelkisedek2404]

thankyou. from
Namibia

[@Counttuts]

You are welcome :)

[@N.O.MTheSkhandaPrince]

Eish..thank u baba..u ar a life saver

[@Counttuts]

You are welcome :)

[@SamkeleNtathu-fj6sg]

absolutely helpfully thank u

[@happylife-te6qk]

I need help..so what if we were told that the depreciation rate was calculated using straight line method how can we find the depreciation for the current period given the same question

[@noraisharaquelnaidoo6962]

Please do profit on sale of asset and Profit & loss acc with the assets disposal account

[@slueyleft5734]

What if a new asset was brought should we record it on equipment and accumulated general ledger?

[@GUYJOSUA]

thanks bro helpful .what about the gain or lost on disposal

[@Counttuts]

The asset was sold at carrying values, so no profit/loss on disposal. See this lesson on that: th-cam.com/video/P88-r_DNIzY/w-d-xo.html

[@DimakatsoNkabinde]

Thank you 😊 so much

[@sitwalaomen4857]

how do we dispose an asset with a life span of a year and some months? please help on that.

[@MandisaZungu-wp8eh]

Thank you ❤

[@kok_dri]

Hy why is the details for how much we sold it Bank when they said it was sold for cash

[@sheldonstanley8002]

Great video

[@Counttuts]

Thank you

[@bupelodube7683]

dankie bafo ...
this was truly helpful and understandble.
thank you once again.

[@PictorialVibes]

Thank you so much.

[@saumaanchughtai7008]

Very helpful 👌

[@jadepivacic5205]

Very helpful

[@reshmeet3919]

Instead of Bank what account would you use if sold on credit

[@babaabofc6522]

Debtors control

[@Mmanare._]

Can you please do a asset disposal account that includes a fixed asset note

[@Counttuts]

Check this one out: th-cam.com/video/yNIrNXpgQyg/w-d-xo.html

[@buyisiwelucia9582]

thank you thank you thank you!!!!

[@Eagle-nt8zb]

Genius 🤞🏾❤️

[@collinsmamadumetja1000]

can yu please make calculatios of assets disposal with more than equipment amounts

[@nthabisengmthombeni4170]

Thank you sir

[@crushy-cruga2632]

WAKHUPHUKA IMPELA NKABI.... NGATHI UYAZI UKUTHI IWOIMPELA LOSHUNI ENGUW'DINGAYO🤙

[@luciammoledi2174]

Hi I now understand, how can I get the straight line calculations

[@Counttuts]

Hello, do you mean the straight-line depreciation method? If so, here it is th-cam.com/video/SD248iavlSg/w-d-xo.html

[@nelsonmugari2039]

so what is the profit or loss on disposal

[@Counttuts]

Hello Nelson, in this lesson, the asset was sold at carrying value so there was no profit or loss. We will be uploading a tutorial where there was a profit and another where there was a loss soon.

[@Counttuts]

Here is an example on that: th-cam.com/video/P88-r_DNIzY/w-d-xo.html

[@hadihashi5495]

Thanks 😍

[@Girl-on-fire]

Thank you!

[@blessingbee661]

Thank u soo much ❤️🥰🥰

[@phumzileportia9514]

very helpful!

[@tinotanics]

Why was the bank credited when the asset was sold for cash.

[@EmsyMakhubela]

Thanks

[@Counttuts]

Welcome

[@goitseonemohutsiwa294]

thanks for such a presentation

[@Counttuts]

Anytime. Thanks for the feedback.

[@yungmsa]

lifesaver

[@clint0219]

Thank You .

[@Counttuts]

You are welcome.

[@minnemuse26]

muy bien

[@asandazondi7038]

why do we use the diminishing balance method?

[@Counttuts]

Hello Asandi, it is because the question indicated that the equipment is written off according to the diminishing-balance method.

[@asandazondi7038]

@@Counttuts ohhhh. thank you. is it generally always indicated?

[@Counttuts]

@@asandazondi7038 That's correct, it should be clear as to which method is used. Check out our video on that if you haven't already; th-cam.com/video/SD248iavlSg/w-d-xo.html

[@juliamafahla3355]

Thank you very much

[@renierkoekemoer2638]

Why is bank moved to the credit side

[@Counttuts]

Please revisit out lessons on the general ledger. It will help you understand.

[@johnmahwai369]

Like wow 👏👏

[@patrickswayvy5524]

hi great video, informative stuff. how can i get fully engaged in stock marketing? im making very little progress a.k.a losing money HELP. thank you

[@Counttuts]

Hello, thank you for the feedback. You can contact us at [e-mail] with regards to that.

[@AngelMabasa-j2h]

❤❤❤

[@ydee1864]

Iove u!!! Mwuah mwuaj mwuah 😅

[@Counttuts]

Good day, glad we could help. Thank you for the feedback.

[@yolandacruz6121]

What if Company A owns Company B and Company A sold 90% of Company B to someone else? Company A - DR notes receivable CR Owners equity? Company B - Debit Owners Equity CR Notes payable to Company A???

[@Counttuts]

Good day, due to the volume of requests for help regarding student specific questions, we are not able to address them on this platform. However, you can request a session at reasonable rates with us at [e-mail] to address your challenges with the subject.

[@jacobphiri1944]

Wow

[@Achieveherglow]

danko .

[@ikokobetsengkekana1881]

What if stock was stolen and not sold

[@Counttuts]

Hello there, if stock was stolen, you would have a debit to Cost of Goods Sold and you would credit the Stock. Hope this helps.

[@Mmanare._]

@@Counttuts I don't understand

[@mohsinkamal2638]

The following info relates to FA of a co.
Cost at 01-04-2002 32,000
Acc dep at 01-04-2002. 13,600
FA purchased in yr ended 31-03-2003. 7000
Dep exp for yr ended 31-03-2003. 4,200.
Dep is calculated on red bal basis @ 30%.
What was net BV of assets disposed of in year ended 31-03-2003?
A) 11,400
B) 16,800
C) 18,400
D) 25,400.
Please help with detail workings.

[@Counttuts]

Good day, thank you for your support, due to the volume of requests for help regarding student-specific questions, we are not able to address them on this platform. However, you can request a session at reasonable rates with us at [e-mail] to address your challenges with the subject.

[@laantsino1394]

Your recording volume is so low on this.

[@tinarobinson8127]

Thanks, this was really helpful. Although completely unrelated, I think I heard a baby in the background.

[@Craz3clipz]

I still don't understand
Accounting is freaking hard😭