General
Donating a Fixed Asset (e.g., Laptop) to Charity
Removing an old company laptop from the books and recording a donation expense.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Donation Expense | Expense (+) | 100.00 | - |
| Accumulated Depreciation | Contra-Asset (-) | 400.00 | - |
| Office Equipment (Cost) | Asset (-) | - | 500.00 |
💡 Accountant's Note
The donation expense is recorded at the 'Net Book Value' of the asset at the time of the gift (Cost minus Depreciation).
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QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.