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.What are the correct journal entries for the sale of a business per the closing statement and associated closing entries for capital assets? Fixed assets represent a significant capital investment, so it's critical the accounting be applied correctly. This video explains how to calculate and account for a sale of an asset when there is a gain or loss. A writedown is a technique that accountants use to reduce the value of an asset to offset a loss or an expense.