Fixed asset accounts are debited, on the date they enter the entity’s assets, for :
-
the contribution value ;
-
the acquisition cost ;
-
the production cost ;
and credited, as applicable, to :
-
account 101 « Capital » or account 456 « Partners – Capital transactions » (capital contribution accounts) ;
-
account 404 « Fixed asset suppliers » or other relevant accounts ;
-
account 72 « Own work capitalized ».
Depreciation and impairment of fixed assets are to be recorded in the sub-accounts of accounts 28 « Accumulated amortization and depreciation of fixed assets » and 29 « Provisions for impairment of fixed assets ».
In the event of disposal, the entry value of the items sold and the corresponding depreciation are removed from the accounts in which they appear. The resulting net amount is debited to account 657 « Book values of intangible and tangible fixed assets sold ». At the same time, account 757 « Income from sale of intangible and tangible fixed assets » is credited by debiting account 462 « Receivables from sale of fixed assets » for the sale price.
