GL 

Entries IN ASSET
Purchase Of Asset 
Asset A/C (70) Dr

To vendor (31) Cr

 Sales Of Asset
 Customer A/C (01) Dr

Asset Sale A/C (50) Cr

Acc. Dep. on Asset (70) Dr

Asset A/C (75) Cr

Asset Sale A/C (40) Dr

Profit on Asset sale (50) Cr or Loss on Asset sale (40) Dr

 Deprecation Posting
 Depreciation A/C Dr

To Acc. Dep A/C Cr

Scraping Of Asset
 Asset A/C (75) Cr

Acc. Dep A/C (70) Dr

Loss due to Scrapping A/C (40) Dr

 

Transfer Of An Asset
 

ABUMN----->Asset transfer within Company Code

70 Asset debited in NEW Business Area

75 Asset credited in OLD Business Area

70 Acc. Dep debited in OLD Business Area

75 Acc. Dep credited in NEW Business Area

ABT1N------>Inter Company Asset Transfer

OLD Company Code 75 OLD Business Area Asset A/C Credit

OLD Company Code 70 OLD Business Area Acc. Dep Debit

OLD Company Code 40 OLD Business Area Asset sale A/C Debit

NEW Company Code 70 NEW Business Area Asset A/C Debit

NEW Company Code 50 NEW Business Area Inter Company Clearing

Credit