Sale of Office Equipment Journal Entry

When there is a Sale of Equipment or sale of Office Furniture, then the Accounting Journal Entry depends upon the gains or loss or no gain no loss cases.

You Can Also Study, “Disposal Of Depreciable Assets”

(i) Where there is a Gain, then the entry is given below:

Accumulated Depreciation - Equipment a/c / Furniture a/c XXX

Cash a/c  XXX

                                                 Equipment / Furniture a/c  XXX

                                                 Gains on Disposal of Equipment / Furniture a/c  XXX

                                            (Gains On Sale Of Office Equipment / Furniture)

(ii) When there is a Loss

Accumulated Depreciation - Equipment a/c / Furniture a/c XXX

Cash a/c  XXX

Loss on Disposal of Equipment a/c / Furniture  XXX

                                                                               Equipment / Furniture a/c  XXX

                                                 (Loss On Sale Of Office Equipment / Furniture)

(iii) At break-Even-Point

Accumulated Depreciation - Equipment a/c / Furniture a/c XXX

Cash a/c  XXX

                                                                Office Equipment a/c / Furniture  XXX

                               (Sale Of Office Equipment / Furniture Made At no Gain no Loss)