Account Codes: Detail
08030-Gain on Disposal of Fixed Asset
Description:
Revenue generated when a fixed asset is sold or traded in and the sale/trade-in value is greater than the asset's Net Book Value (adjusted historical cost less accumulated depreciation). See also accounts 28721 - Loss on Disposal of Asset, for loss on disposal of non-capitalized assets or 42001 - Loss on Disposal of Fixed Asset, for loss on disposal of capitalized assets.
Account Type Code: 57
Data Entry Status: Y (Yes)
Tax Reportable Status: Not Tax Reportable