New transfer from fixed asset account to bank account, the amount is equal to your sale price. 2. When we're talking about the gain or loss of the sale of an asset we need to be looking at net book value at the time of the sale.The selling price is direct from your settlement sheet. The underlying assets sold may have a current value of zero if fully depreciated. Asset disposal is the removal of a long-term asset from the company's accounting records. It is an important concept because capital assets. This video explains how to calculate and account for a sale of an asset when there is a gain or loss. If you realize an overall net loss, fill in the oval next to Line 5 on your PA-40. On PA Schedule D, report gains (losses) from selling: • Land and buildings. Columbia University has announced the 2024 Pulitzer Prizes, awarded on the recommendation of the Pulitzer Prize Board.