cpa2586
Newbie
Joined: 13 Dec 2011
Location: United States
Online Status: Offline
Posts: 1
|
| Posted: 13 Dec 2011 at 22:21 | IP Logged
|
|
|
Was hoping I could get some guidance. Basically, we are
returning some our assets to a vendor due to a defect.
These assets have been on our books for about 2 years with
a useful life of 3 years. The vendor is going to issue a
give us a discount for purchasing the new and improved
product. Also, the vendor is going to pay us for taking
the equipment off of our hands. Looking at a very minimal
gain. The question is would this just be considered a
normal disposal? With the credit being issued would that be
considered a “sale”? Do we being accelerating depreciation
now? If we choose do to go to receive a credit against the
purchase price, how would it be treated?
|
Active Topics 
Memberlist 
Search 
Help
Register 
Login
Topic: Accounting for disposal of fixed assets
Topic Closed)
