Fixed Asset Disposal Accounting Explained for Beginners | Maxwell CPA Review

[@MaxwellCPAreview]

🔥 Black Friday Deal! Get 50% OFF Maxwell CPA Review!
💼 Pass the CPA Exam for just $399! (Regular price: $799)
👉 Sign up now: courses.maxwellcpareview.com/bundles/comprehensive-cpa-exam-review-course-2024
📅 Offer Valid: Black Friday, Nov. 29 - Cyber Monday, Dec. 2

[@catiagm83]

You couldn't make the concept any easier. Absolutely brilliant video for people like me that find books too complicated and absolutely useless. I am very grateful for your work which is very appreciated!

[@katherinepalacios2656]

explained this so clearly! commenting because this video truly needs more love. Thanks for your help.

[@MaxwellCPAreview]

Hi Katherine, your comment is so incredibly kind, thank you! My main goal is to breakdown difficult concepts into clear and simple steps, so I appreciate hearing that. If there's any way I can help, please let me know!

[@laibahmehmood9425]

Finally, one video that is actually straightforward with its explanation. Cheers!

[@MaxwellCPAreview]

I am so glad to help!

[@AdeebOfficeWork]

Great Video. It explained so clear. I really loved it.

[@GoodEveningDota]

god tier video

[@MaxwellCPAreview]

Thanks so much for the kind feedback!

[@saifrashid6713]

Best and simple explanation. Thankyou

[@MaxwellCPAreview]

Thanks so much Saif!

[@daliadaas6387]

Thanks for sharing , I found it useful!

[@MaxwellCPAreview]

Hello Dalia! Thanks so much for the kind feedback. If I can help out in any way, then please let me know.

[@FluffyMariam]

Perfect explanation. Thanks 🙏🏿

[@MaxwellCPAreview]

Thank you!

[@cibga]

great video.

[@amanulhaq9130]

Amazing. 👌

[@MaxwellCPAreview]

Thank you, Aman!

[@silentrider4635]

Hey there what if historical cost of asset is $1000 andnaccumulated depreciation is $600 but the asset for some reason is sold for $1500 (i.e above historical cost ) then the excess $500 over historical cost will be credited to profit and loss or capital reserve ?

[@lulushaboo]

Thank youuu very helpful

[@MaxwellCPAreview]

Thanks so much Lucia!

[@redflowers9471]

Hi Iam fatma from Egypt i love yr way in this video plz go on , need all about fixed assets. Exchange or loss fixed assets. Regards

[@MaxwellCPAreview]

Thanks so much!

[@camilascarpellini5928]

And where and how do I record that I my balance sheet and IS?

[@MaxwellCPAreview]

When you sell the fixed asset, you will decrease your assets. You will record a gain or loss to the income statement in the other income section.

[@rliy001]

Why do we put the cash from sale on debit side?

[@MaxwellCPAreview]

Hi Rush, thanks for the question! Assets carry a debit balance and liabilities a credit balance. Since cash is an asset then it’s recorded as a debit.

[@walterleamy4623]

NBV is not “what it’s worth “. That’s the carrying value. The market determines the fair value

[@SIDHANT_DEB]

U cheat me