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General Accounting Discussions: Sale of Demo Asset (Former Invy Item)

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    • CommentAuthorSportyJim
    • CommentTimeFeb 28th 2007
     
    If an asset is withdrawn from inventory for use as a demo asset, customers will either come to one of our facilities to see or it could be taken to trade shows for customers to see. The demo asset is depreciated upon being withdrawn from inventory.

    Is there a time period or other condition that the asset can be returned to inventory with depreciation to date being reversed and the asset considered a routine sale in the regular course of business? Or do we always have to consider this a gain on sale of an asset under all circumstances?

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