USA Depreciation

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I'm a new accountant and have been unable to find any support for my question. I'm working on depreciating for a fixed asset (furniture) that we partially sold that we are currently financing. Would any one be able to guide me on the correct journal entries to make? And to perhaps guide me on anything that may be tricky?

Please forgive my ignorance and lack of knowledge if this is a simple question.
 
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Has the asset (furniture) been totally written off before it has been sold? I'd split in the two main issues


1) Sale of a fixed asset
1.1) depreciation fixed asset (residual book value) e.g. $1
to asset e.g. $1
1.2) accounts payable (or cash) $50
to profit on asset disposal $50


2) installment purchase (financing)
as normal
bank/cash 10$
to accounts payables 9$
to financing revenue 1$
 
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The furniture has not been written off, should we write it off? The furniture was purchased as a bundle package in 2010 and still has about 4 more years of depreciation left.

I appreciate the help!
 
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Due to the fact that the company has no longer the control over the fixed asset (furniture; complete bundle) and can not gain additional profit through the asset the residual book value can be (or should be) written off.

If not the complete bundle has been sold, it's just a partially depreciation.

Relating to example above the bookings / accounting records above changes the value in 1.1 into the residual book value.

In profit/loss finally might be shown

revenues
profit on asset disposal (credit) 50$

expenses
depreciation (debit) e.g. 20$

net income
TOTAL (credit) 30$
 

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