Hi,
I set up a company about 6 months ago and bought some office equipment which includes a computer which is collecting dust.
When I purchased it, I entered in the purchase as N/C for office equipment (non depreciable).
When I sell it again, I probably won't make a profit on it, but more a loss.
What is the best way to deal with the N/C when I make this sale?
Am I right in saying:
Transfer from Office Equip into Stock on Hand then sell?
Thanks
Adrian
I set up a company about 6 months ago and bought some office equipment which includes a computer which is collecting dust.
When I purchased it, I entered in the purchase as N/C for office equipment (non depreciable).
When I sell it again, I probably won't make a profit on it, but more a loss.
What is the best way to deal with the N/C when I make this sale?
Am I right in saying:
Transfer from Office Equip into Stock on Hand then sell?
Thanks
Adrian