When adding equipment what does proceeds mean

[MadamX · Accepted solution]

The general term for proceeds (when it relates to equipment or capital assets) is the amount that you sold the equipment for (i.e. known as the proceeds of disposition).

Here is a link for more information on capital gains (which can result from a sale of equipment).

http://www.cra-arc.gc.ca/capitalgains/

And here is a link for more information on reporting income and expenses related to a business.

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/rprtng/menu-eng.html