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What is Proceeds from sale of assets?

Harper Allen | 2023-06-05 18:08:32 | page views：1759
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Harper Cole

Studied at the University of Zurich, Lives in Zurich, Switzerland.
When long-term assets are sold, the amounts received are referred to as the proceeds. If the amount of the proceeds is greater than the book value or carrying value of the long-term asset at the time of the sale, the difference is a gain on the sale or disposal.
2023-06-10 18:08:32
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Zoe Reed

QuesHub.com delivers expert answers and knowledge to you.
When long-term assets are sold, the amounts received are referred to as the proceeds. If the amount of the proceeds is greater than the book value or carrying value of the long-term asset at the time of the sale, the difference is a gain on the sale or disposal.
What is the difference between gains and proceeds in terms of long ...
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