Is at hand in reality any uk reatailers out at hand in reality doing any busness ?? furniture, carpet, bed?
not sin it this slack in 20 yrs of retail, wev not have any good weeks since october..Answers: I own a tanning and allure salon and we doing great (also sorry)
I'm having a fantastic month (cars).
Sorry.
What happen to your stability sheet and P and L commentary when you provide an asset?
Just slightly confused as to what happens contained by these accounts when you sell an asset specifically:a) Net Book Value is same as the Market Value
b) Net Book Value is greater then bazaar value
c) Net Book Value is smaller quantity then open market value
Many Thanks
Answers: The flea market value have no effect on the sale of an asset (unless you own the asset professionally revalued to the new souk value on disposal, which is unlikely unless it is something resembling property).
In regards to your cross-question about how the B/S & P&L accounts are artificial, the accounting entries would beas follows:-
1. Dr bank/cash (with the proceeds)
Cr sale of fixed assets (with the proceeds)
2. Dr accumulate depreciation (dep'n to date)
Cr Fixed assets (original cost value)
Dr sale of fixed assets (balancing account entry)
This will then afford you the profit on the sale (difference of the mart of fixed assets account) and clear the asset off of accounts.
Hope this helps.
I'd step with "c".
Assuming that the asset be depreciated up to the time of sale, book helpfulness may be less than bazaar value.
That may also depend on the age of the asset.
However bread on hand increases.
Profit or loss on mart of asset will be effected surrounded by P & L Account. In Balance Sheet the particular category of asset will shrink and cash contained by hand or wall will increase. In net effect, the total of Assets within Balance sheet will not change.
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