Our company sold a car that has been used for ten years, and the book depreciation has been withdrawn, leaving only the residual value. How to deal with the accounts and how to deal with the car when

Our company sold a car that has been used for ten years, and the book depreciation has been withdrawn, leaving only the residual value. How to deal with the accounts and how to deal with the car when it is sold? The specific accounting treatment for the sale of self-use fixed assets is as follows:

Debit: liquidation of fixed assets

Accumulated depreciation (depreciation accrued in books)

Loan: fixed assets (original book value of fixed assets)

Borrow: bank deposit (money from selling cars)

Loan: liquidation of fixed assets

Related taxes and other related expenses paid.

Debit: liquidation of fixed assets

Loan: Taxes payable

bank deposit

Pay taxes and fees:

Borrow: Taxes payable.

Loans: bank deposits

Finally, the balance of fixed assets liquidation will be transferred to non-operating income or non-operating expenditure according to gains or losses respectively.

Borrow: non-operating expenses

Loan: liquidation of fixed assets

Or:

Debit: liquidation of fixed assets

Loan: non-operating income