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TOB how do you post it

Da11 · 2017-05-31 10:43:59

Hi would anyone be able to advise of how to post TOB ( transfer of business) into my accounts? The situation is that the business is closing and being sold(sole-trader). Machinery book value is 30K and inventory value is 15K. Everything is sold for 15k, the new owner is taking over the premises lease as well. Will I post…

31-05-2017 10:43am

#1

Da11

Registered Users, Registered Users 2 Posts: 61 ✭✭

Join Date: June 2009

Posts: 30

Hi would anyone be able to advise of how to post TOB ( transfer of business) into my accounts?

The situation is that the business is closing and being sold(sole-trader). Machinery book value is 30K and inventory value is 15K. Everything is sold for 15k, the new owner is taking over the premises lease as well.

Will I post this the same way as it is disposal of the assets?

Thank You

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