Hey everyone! Our company is planning to sell a reliable, however well depreciated car that served us several years. The vehicle is already written off. Could someone please advise me , what is a correct way to book this operation? Regards, Jensen
Jensen Hi Jensen!
I think it would be reasonable to book it as an extraordinary income, as the vehicle is already written off. However, I did not experience such sale personally, so it is only my assumption.
Good luck!
Walker
Hey Jensen!
I don't agree with Walker ! Such type of operation seems to be more as a profit from property, plant and equipment sales, instead of extraordinary income.
Hope it helps!
Walker and Perry Thank you very much for your comments! I have also advised external accountant with your options and we have agreed on Walker's idea to be relevant in this situation.
