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Fixed Asset Disposal Accounting Explained for Beginners | Maxwell CPA Review

Hey everyone, Kyle Ashcraft here from Maxwell CPA Review! Confused about what happens to equipment when it's time to sell? This video dives into disposing of fixed assets. We'll use a popcorn machine example to show how depreciation affects value, then walk you through my 4-step process for recording the disposal. You'll also learn a handy formula to calculate gain or loss on the sale using net book value. Whether you're a business owner or student, this video will make fixed asset disposal in accounting a breeze! Learn the Key CPA Ratios in My FREE Mini-Course: https://courses.maxwellcpareview.com/... Check out my CPA review course: https://courses.maxwellcpareview.com/... Learn how to dispose a fixed asset (aka property, plant, and equipment)! Examples are given to help you record depreciation and make the journal entries for selling fixed assets. I’ve included two different ways to calculate gain and loss journal entries. Maxwell CPA Review was started by Kyle Ashcraft, whose passion is helping students pass the CPA in as little time and with as little stress as possible. Reach out to us at [email protected] with any questions, including inquiries about private CPA tutoring! To sign up for our private tutoring: http://MaxwellCPAreview.com ✨ 𝗝𝗼𝗶𝗻 Maxwell CPA Review ✨    / @maxwellcpareview   🍁 𝗔𝐛𝐨𝐮𝐭 Maxwell CPA Review🍁 Our goal at Maxwell CPA Review is to help you thrive in your accounting studies. Whether you're struggling through a college accounting course or are pursuing the CPA exams, we want to help these confusing concepts finally make sense! 📌𝗖𝗛𝗘𝗖𝗞 𝗢𝗨𝗧 𝗢𝗧𝗛𝗘𝗥 𝗩𝗜𝗗𝗘𝗢𝗦 ➡️How I Scored a 95 on the FAR Exam | 4 Must-Know Topics 🔗   • Conquer the FAR Exam | Top Tips and S...   ➡️How Long are the CPA Exams? 2024 Exam Structure 🔗   • How Long are the CPA Exams? 2024 Exam...   ➡️2024 CPA Exam Score Release Dates | Testing Windows 🔗   • 2024 CPA Exam Score Release Dates | T...   ➡️Master the 2024 TCP Discipline Exam: Complete Topic Breakdown 🔗   • Master The TCP Exam: Blueprint & Skil...   𝗖𝗵𝗲𝗰𝗸 𝘂𝘀 𝗼𝘂𝘁 𝗼𝗻 𝘀𝗼𝗰𝗶𝗮𝗹 𝗺𝗲𝗱𝗶𝗮: Instagram:   / maxwellcpareview   Facebook:   / maxwellcpareview   𝗧𝗵𝗮𝗻𝗸𝘆𝗼𝘂 𝗳𝗼𝗿 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: Fixed Asset Disposal Accounting Explained for Beginners | Maxwell CPA Review #fixedassetdisposal #accountingintro #assetmanagement #financialreporting #depreciationmethods #assetvalue #accountingbasics #assetdisposal #financialaccounting #accountingtips #assetdepreciation #assetsale #accountingeducation #financebasics #accountingtutorial #assetmanagement101 #financialliteracy #businessaccounting #accountingprinciples #assetvaluation 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀: fixed asset disposal process depreciation methods in accounting depreciation calculation example financial reporting for fixed asset disposal fixed asset disposal procedure fixed asset disposal accounting maxwell cpa review fixed asset disposal accounting explained