Daffodil International University
Faculties and Departments => Accounting – The Language of Business => Business Administration => Business & Entrepreneurship => Financial Accounting => Topic started by: fahmidaemran on November 28, 2018, 02:20:46 PM
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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
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