Depreciation and Disposal of Fixed Assets

[@samanta8994]

Thank you so much. You made this a lot simpler and easier. The other KZbin videos are so bad and hard to understand, but you made it so simple. Thank you!

[@sbee1682]

Thank you a million for posting this!!! So easy to comprehend. I'm doing reconstructing of ledger accounts - including disposal accounts - for the first time in diploma accounting. I had no idea what a disposal account was until I stumbled across this video. Amazing. Thanks for keeping it simple.

[@sallykass1335]

Thank you so much. I'm in grade 11 and was literally thinking of dropping accounting. Thank you ❤️❤️❤️❤️

[@Drinkwater05]

I feel your pain😂😂💔

[@poweringpossibilities]

Im also in grade 11

[@onthewaytoview]

Drop untill you start understanding it

[@rliy001]

These are the actual real life useful things that we take from school. All those other things like Pythagoras, area of triangle etc etc are utter rubbish. Trust me on this one. I been to school many many moons ago. I'm here because I'm trying to figure out how I work out my tax this year as I owned and sold a investment property through a company. These are like gold. I wished I did accounting and economics and other things that are useful in real life Pls don't drop accounting. You are going to need it in life. Well, ofcoz you can pay an accountant one gazillion dollars to do your taxes. That's the alternate

[@ratladifinger578]

I know that pain

[@LeMale96]

You sir are the real MVP

[@kaustubh.sharma]

it's not CSGO

[@tiaanlorenzen7778]

Nice

[@pacificshabz]

thank you million much ...you made it easy like 1+1=2 , big fan

[@RameshR-ui9yt]

+pacificshabz Thanks for your comment I'm so glad it was helpful and easy to understand. Good luck.

[@salahaddin2009]

Can you do a video on revaluation on assets for property, appreciating and depreciating

[@mhretfshaye9573]

Thanks very much

[@willser29]

Great video. Simple and easy to follow for student, thank you!

[@hasvinvictor7146]

Best video to watch on Disposal of Fixed Assets. Thank you so much sir!!!

[@repollo039]

THANK YOU SOOOO MUCH I WAS STUCK ON THIS CHAPTER FOR A WHOLE WEEK. BUT YOU MADE IT SO EASY!!!! GOD BLESS!!

[@mrsomera2293]

Is this depreciation truest or fake (

[@joliekoo304]

THANK YOU SO SO MUCH! I have a test tomorrow and this really helped me understand ~:)

[@helentudway-cains5366]

Excellent Tutorial. Thank you for taking the time to create this.

[@deborahking3532]

Awesome teaching, you teaching is simple and understanding. Thank you.

[@imsaraooi]

Thank you for your sharing! This is truly clear and straightforward to understand.

[@olubukolaalayande2428]

Thank you for taking your time to explain with simplicity

[@caroleenacorredor3836]

Thank you very much!! What a simple and brilliant explanation!

[@MrMaddog786]

Thank you so much, had my exam today and the only reason i passed was because of your channel

[@JohnB-pm5sy]

Thank you, needed a refresher, school was a while ago...

[@chanvatey1222]

Thank you a lot sir ! My exam is in one week and you have saved my life!

[@elitecarpetcleaningservice1077]

Thank for the video. I have been searching for the answer you showed.👍👍👍

[@Aj_cl]

Great video for what used to be for me a complicated concept!

[@anthonyvazquez8742]

Great video! Clear explanation regarding a tricky topic. Great use of examples

[@nadiabezuidenhout4512]

Definitely explained it a lot better than my accounting lecturer!! Lol

[@jarradsingh5219]

Thank you, very clear explanation.

[@moleferatsoana1160]

I have never commented on a video on KZbin but I must say thank you for that, very helpful indeed. What do you do when assets were damaged in fire and can't be sold?

[@anisaissa4319]

Molefe Lebogang if the asset was insured against fire then it has it accounting treatment

[@nelaondungula6335]

Thank you so much now am certain I'll pass my exams❤️❤️🙏such an easy way of explaining

[@xchionali2489]

Excellent explaination

[@asakuz]

That is very helpful and big THANKS to you for simplicity

[@sadifrahman9288]

What an amazing lecturer !!!!

[@TheStereo941]

Could you do an updated version where dates are used? thanks- great video

[@CAtanushri]

thank you so much! blessings from India! :)

[@ross7646]

Not all hero’s wear capes

[@lenalarina59]

In love with your teaching technique😍

[@jackfinn5907]

Good Northern Ireland man cheers :) very well explained

[@TheBenWTF]

Really useful video, thanks very much!

[@nathanl7459]

Your video has been wonderful and very informative 👍 I just have one question, 3:57 why would the $8000 be put on the CR side of the Asset disposal account (t account)?

[@tausal1]

Excellent explanation!

[@user-jt2jl7vz3s]

thank you!!! 12 hours & i will be in the exam room!

[@brindleyadolphus4905]

This comment gives me anxiety hahaha

[@alikhaliqdina9365]

Explained it so well. Thank you Sir

[@deswilson4690]

Thank you, you have made that so understandable, very helpful for my AAT Advanced bookkeeping. Hope you post more.

[@nadamuhammad6831]

Thank you so much, this was really helpful ‼️

[@AlexSikander1]

I was struggling to understand but you made it so easy

[@YusufAli-69]

Ur awesome so simple explanation

[@dwainalfred4151]

You really made it easy

[@ranaahmed6869]

thank youu! u made that easy as a piece of cake! but im just confused about one small thing, if its value 10k and we sold it for 14k those extra 4k are considered revenue? am i wrong?

[@shadybaby5309]

yep it is but not as revenue, it`s recognized as gain on the disposals on the P/L

[@NickLiang]

Not revenue as such as this is sales of inventory. Like shady said it is a gain on disposals which credits income.

[@PictorialVibes]

Thank you so much!

[@antman6005]

Great explanation thanks heaps

[@sheerazaziz7027]

Thanks, I just got the explanation on the last day before test...

[@justjames1111]

T accounts are great. Good explanation.

[@petersmith5978]

This has helped me so much! Thank you!

[@ramzimuhammed5538]

really great help sir, thanks

[@khairulikhwanm.9537]

So what happen whet they are only disposing part of the assets? How would we find the accumulated depreciation for that particular assets especially when the depreciation is monthly basis.

[@hiviamunugama]

Thanks a lot mate. Helped heaps.

[@mytutor3859]

Thank you, sir... I now understood it all.

[@jenniferlaw7648]

This helps sosososososo much thank you!!

[@RameshR-ui9yt]

Thanks - glad it helped :-)

[@nurulafiqah3112]

Yes this helps me too !! I didn't know why I find the way my lecturer explained it far more complicated than his explanation.

[@mebrakmisgina6937]

thank you for your clear demonstration.

[@ramamartin]

Thanks. Easy to understand and remember

[@ganweijun4303]

Thanks Mate! Great Video

[@Aliens4world]

U made it so simple….👍👍

[@ETHBTC2023news]

Thank you very much, a good clear explanation

[@annak4314]

Hi, Do we need one disposal account for all assets to be disposed over time OR every asset gets its own disposal account? And what type of account is it when first created (asset/ liability/ income..)? Thanks

[@mubasharaslam7082]

Tnx a lot... It helped me a lot

[@suhrobrajabov5484]

thank you sir it was really very exact and useful

[@lakshikawaruni6256]

Thank you so much. this solved lot of questions i had

[@rasseleltahhan2076]

Thanks, good explanation.

[@nevith2517]

Sir you are legend. thnx alot

[@ahteshamkhan3975]

Thanks that's a great explanation

[@gymstopofficial]

Do you happen to have a website?

[@threesisters2944]

Thank you so much. I understood well. 🌸

[@nanon1004]

i found this very helpful and easy to understand, thank you so much :)

[@NoOne-jy6mc]

Since Australian businesses can buy 30k (currently 150k) assets with 100% instant depreciation, my question is: Is it legal to buy a 30k business asset (car, machine, etc.), and then sell it 1 year later to a private individual for well below the asset's value (i.e. only $1)? The advantage is that the business can claim the 30k asset as an instant tax deduction (so the business ends up paying less tax or even no tax at all), and the next year, the private individual can acquire something of a high value for almost free. Another potential benefit is that the business now has no assets, so in the odd chance it is sued, the asset is no longer at risk because it is privately owned. When I say "business", I mean "Pty Ltd company", definitely not sole trader/partnership of course. It seems smart and legal, but am I missing something? Also another question: Instead of selling 1 year later, what about 1 day later? Depreciation is instant and 100%, right? So can it be sold for $1 even the next day then? I know that selling a vehicle means the buyer needs to pay about 3% stamp duty, but that wouldn't apply to other assets like a machine, or carport, or computer, or solar panels, or an irrigation dam, etc, right?

[@kwameamoah5600]

Very helpful. Thanks

[@kylezinho_]

Why do you credit the income statement when you make a profit and debit it when you make a loss? I thought debit was when you get money and credit is when you lose money.

[@apurvapachpor2810]

thanks. very helpful

[@manalashraf6544]

Very helpful lecture

[@christopherbonnar355]

Would you do a similar example of revaluation account

[@anjayvarghese3002]

Thank you sir!

[@JustinBieberFan957]

Thank you. Very useful indeed!

[@Ey3facts]

Thank you very much you made me understand everything ❤️

[@jacksingarajah]

Did you credit the vehicle account with 20,000 because it's not there anymore? correct?

[@stephencastillo7914]

yes

[@flamezilla]

Thanks a lot Sir!

[@easyaccounting778]

good explanation

[@puddinluvmusic1321]

Thanks really helpful 😊

[@baelicious4583]

can I know why gain is put on credit at income statement?

[@rosegrace9151]

Good video. Thank you

[@jangjerdum6523]

Very helpful

[@edmontonprincess]

what happens to depreciation expense account?

[@rajazakirah619]

I dont understand where 8000 came from.. can u explain?

[@AlexBunyan1]

thanks so much!!! even better than kaplan !

[@daksh3764]

Thank you mate

[@barbaarintabulshada4409]

Thank you so much. Actually I did benefit

[@ukidding]

isn't the depreciation rate determined by the tax authority?

[@DeLarryfication]

How is this made possible to understand in 7 minutes when there are two hour videos out there that have failed?

[@peace5684]

hi Rick! am doing level 3 accounting and i was wondering if you can teach me online. i realy like how you teach.i live in uk. if you have availability please do let me know. thank you

[@alexandermedina1636]

great vid

[@ahmedadeeb312]

Thank you so much

[@markasiimwe7458]

thank you so much really appreciate it

[@sudeshnaghodke4668]

Thank you sharing

[@rimbax9752]

Where is the corresponding account for the assets disposal

[@esinamakorli8616]

Helpful Thnks

[@doreenkathure8084]

Thank you so much,

[@suhaibshamim9357]

Legendary