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How to Classify Capital Gains on a General Ledger

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fahmidaemran:
How to Classify Capital Gains on a General Ledger
When a company sells an asset other than inventory for more than the original purchase price, it has a capital gain. There's no universal way to classify capital gains on a company general ledger. Instead, U.S. generally accepted accounting principles instruct companies to classify the gains based on the nature of the asset.

Source: https://smallbusiness.chron.com/classify-capital-gains-general-ledger-77810.html

tokiyeasir:
learning part

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