How To Calculate the Gain or Loss on Sale of Financed Equipment
QuickBooks Canadahow do i calculate gain or loss on sale of a financed asset
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Safari818
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06/30/12 8:28pm PDT
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Your Net Book Value (NBV) of the asset is your cost less accumulated depreciation.
Your gain or loss is the difference between the proceeds and NBV.
Whether it is financed or not is irrelevant, assuming that you have correctly accounted for the purchase.
