Book value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2013
I purchased an Assets of Rs.50000/- and charged depreciation 20% for Full Year. I sold that Assets of Rs.42,000/- what is the Book Value of the Assets and Journal Entry. Please guide me.
17 January 2013
After depreciation book value of the asset is Rs 40000. The entry would be:
Bank A/c Dr 42000
To Asset 40000
To Profit on sale of Asset 2000
After this write off Profit on sale of asset to PL a/c
Bank A/c Dr 42000
To Asset 40000
To Profit on sale of Asset 2000
After this write off Profit on sale of asset to PL a/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
