Yes you use the total in the fixed asset account for the value to clear that account. ie if a building fixed asset account has the value of 150,000 the journal entry would be
debit gain loss 150K
credit fixed asset building 150K
Yes each fixed asset account that was sold, and each […]
Resolution for 'building 150K issue: 'Recording the sale of a property – clarification (Rustler)' available: Yes.
The building 150K issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the building 150K issue yourself by looking for a resolution described in the article. If it is a complex building 150K issue or you are unable to solve the issue, you may contact us by clicking here or by using other building 150K support options.
For more information about resolving issues related to building 150K in Quickbooks/QBO or to get support for the issue 'Recording the sale of a property – clarification (Rustler)', click the link below: