USA Entry to record donation of completely depreciated asset

[Jules123]

What would my entry be for a completely depreciated asset? I know the FMV.

 

[Drmdcpa]

Huh?

 

[Steve-LevelUp]

Dr. Accumulated Amort. (full amortized amount)
Dr. Cash
Cr. Asset (original amount)
Cr. Gain on sale of asset

There might be differences on tax laws that might need to be applied, but I think this is generally what you are looking for.

 

[bklynboy]

Sounds right where cash = gain since its fully depreciated (assuming its not taken off the balance sheet in which case just debit cash and credit gain)