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Disposal of Fixed Asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Disposal of Fixed Asset

  • This topic has 4 replies, 3 voices, and was last updated 4 years ago by Stephen Widberg.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • November 2, 2020 at 10:05 am #593835
    alpha2006
    Participant
    • Topics: 19
    • Replies: 18
    • ☆

    Book value 9.6m and sold for 13m but only 6.5m is paid and the balance will be paid in three months time … am confused how to recognize this gain …

    Thanks

    November 3, 2020 at 12:44 pm #593937
    ghulam98
    Member
    • Topics: 19
    • Replies: 15
    • ☆

    GAIN WILL BE RECOGNIZED IN FULL 3.4m of the gain will be recorded in pnl

    November 3, 2020 at 1:38 pm #593944
    alpha2006
    Participant
    • Topics: 19
    • Replies: 18
    • ☆

    Thank you… I was suggesting that some part of the profit will be deferred as defer income…
    Thanks once again

    November 3, 2020 at 8:51 pm #594000
    ghulam98
    Member
    • Topics: 19
    • Replies: 15
    • ☆

    no it will not defer only receivable will be created

    November 4, 2020 at 3:57 pm #594063
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3416
    • ☆☆☆☆☆

    No – gain will be recognised in full on date control of asset transferred to buyer.

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