I would have recorded the golf cart as an asset, for 1/2 the total price. Then over the years, I would have depreciated the golf cart based on it's useful life. I assume this wasn't done. Anyway, at this time when it was sold, I would credit the golf cart asset for the amount of the cash and debit wherever you put the money, cash, bank account, whatever. The difference of what you paid and what you received, I would credit the golf cart and debit whatever account you expense you golf cost to. Formal accounting in a business would be different.
Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org> on behalf of Fred Tydeman <tydeman.f...@gmail.com> Sent: Monday, June 27, 2022 7:01 PM To: Gnucash Users <gnucash-user@gnucash.org> Subject: [GNC] Split ownership A friend and I bought a golf cart, each paying 1/2 of the price. Some years later, we sold that golf cart (for less than we paid, splitting what we got). How should all of that be recorded? _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
