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!
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!
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 ?
explained this so clearly! commenting because this video truly needs more love. Thanks for your help.
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!
Great Video. It explained so clear. I really loved it.
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!
Finally, one video that is actually straightforward with its explanation. Cheers!
I am so glad to help!
god tier video
Thanks so much for the kind feedback!
Best and simple explanation. Thankyou
Thanks so much Saif!
Thanks for sharing , I found it useful!
Hello Dalia! Thanks so much for the kind feedback. If I can help out in any way, then please let me know.
Perfect explanation. Thanks 🙏🏿
Thank you!
great video.
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
Thanks so much!
Thank youuu very helpful
Thanks so much Lucia!
Amazing. 👌
Thank you, Aman!
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 ?
Why do we put the cash from sale on debit side?
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.
And where and how do I record that I my balance sheet and IS?
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.
NBV is not “what it’s worth “. That’s the carrying value. The market determines the fair value
U cheat me